SOURCE: Lopez Holdings Corporation

September 02, 2011 04:36 ET

Lopez Holdings Corporation Announces Expiration and Final Results of Offer to Purchase Its 7.875% Senior Notes

MANILA, PHILIPPINES--(Marketwire - Sep 2, 2011) - Lopez Holdings Corporation (PSE: LPZ) announced today the expiration and final results of its previously announced offer to purchase any and all of its outstanding US$150,000,000 7.875% Notes due 2002 (the "Notes") for cash, at their par value (the "Offer"). The Offer was made pursuant to an Offer to Purchase dated August 2, 2011, as amended and supplemented by a Supplement to the Offer to Purchase dated August 26, 2011 (together, the "Offer to Purchase").

The Offer expired as scheduled at 5 p.m., New York City time on September 1, 2011. Based on information provided by Bondholder Communications Group, LLC, the Information and Tender Agent for the Offer, an aggregate principal amount of US$13,966,000 of the Notes were validly tendered and not validly withdrawn in the Offer.

All of the Notes that were validly tendered and not withdrawn have been accepted for purchase by Lopez Holdings Corporation. The total consideration for each US$1,000 in principal amount of Notes so tendered and accepted for payment is US$1,000. No additional or accrued interest will be paid on Notes so tendered and accepted for payment. The payment date for the Offer is expected to occur on or around September 6, 2011.

ING Bank is acting as the Dealer Manager for the Offer. Questions and requests for copies of the Offer to Purchase, the Supplement, or other information may be directed to Bondholder Communications Group, LLC, the Information and Tender Agent for the Offer, at +1 212 809 2663 or +44 (0)20 7382 4580. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offer.

This press release is for your information only and is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities. The Offer was made only by and pursuant to the terms of the Offer to Purchase and the information in this press release is qualified by reference to the Offer to Purchase. The Offer was not made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. None of Lopez Holdings Corporation, the Dealer Manager or the Information and Tender Agent has made any recommendations as to whether holders should tender their Notes pursuant to the Offer.