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NO RECOMMENDATION IS MADE AS TO WHETHER HOLDERS OF THE NOTES SHOULD DELIVER CONSENTS TO THE PROPOSED AMENDMENTS. THIS ANNOUNCEMENT IS ALSO NOT A SOLICITATION OF CONSENTS TO ANY PROPOSED AMENDMENTS. THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NEITHER AN OFFER TO SELL NOR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITY. The Information Agent for the Consent Solicitation was:īanks and Brokers call: +1 (212) 269-5550 (collect)Īll others call toll-free: +1 (877) 761-6521 The Solicitation Agent for the Consent Solicitation was BofA Securities, Inc. ( New York City time) on (such date and time, including as such date and time may be changed by the Company, from time to time, the " Record Date") were entitled to consent to the Proposed Amendments pursuant to the Consent Solicitation. Only holders of record of the Notes (or their duly designated proxies) as of 5:00 p.m. Promptly following the Expiration Date, the Company, the guarantors party thereto and the Trustee executed the first supplemental indenture to the indenture governing the Notes to implement the Proposed Amendments. As of the Expiration Date, the Company received consents from the holders of a majority in aggregate principal amount of the Notes. The Consent Solicitation was made solely by means of the Consent Solicitation Statement. ( New York City time) on May 5, 2021, (the " Expiration Date").
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The Consent Solicitation expired at 5:00 p.m. The proposed amendments also improve the Indenture from a covenant standpoint as a result of discussion and negotiations with certain holders of the Notes. The Company sought proposed amendments to align certain provisions of the Indenture with the terms of Amendment to the Judicial Reorganization Plan, approved by the Company's creditors on Septemand ratified by the 7th Corporate Court of the Judicial District of the State Capital of Rio de Janeiro on October 5, 2020, which we believe will ensure the operational viability, greater financial flexibility and efficiency and the sustainability of the Company's business by implementing its strategic plan and creating value for all of its stakeholders, in connection with Section 6.18 of the Amendment to the Judicial Reorganization Plan, as described in the consent solicitation statement of the Company, dated Febru(the " Consent Solicitation Statement"), pursuant to which the Consent Solicitation Statement was conducted. – In Judicial Reorganization (the " Company"), an integrated telecommunication service provider in Brazil, announced today that it received the required consents from the holders of the 10.000%/12.000% Senior PIK Toggle Notes due 2025 issued by the Company (the " Notes") for the adoption of certain proposed amendments as set forth below (the " Proposed Amendments") to the New York law indenture, dated as of July 27, 2018, governing the Notes (the " Indenture"), in connection with the previously announced consent from holders of the Notes (the " Consent Solicitation").
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