Grupo IDESA - Exchange Offer - Launch

Grupo IDESA, S.A. de C.V. Announces Offer to Exchange Existing Secured Notes for New Secured Notes and Cash Consideration

28 MARCH 2023

Full announcement including disclaimers and offer restrictions available via prnewswire

"MEXICO CITY, March 28, 2023 /PRNewswire/ -- Grupo IDESA, S.A. de C.V. (the "Company") today announced the commencement of an exchange offer and consent solicitation (the "Offer and Solicitation") for any and all of its outstanding 9.375% Senior Notes due 2026 (the "Existing Secured Notes") held by Eligible Holders (defined below) for 6.50% Senior Notes due 2028 (the "New Secured Notes") to be issued by the Company and cash consideration, as applicable, and accrued and unpaid interest on the Existing Secured Notes through, but excluding, the settlement date of the Offer and Solicitation to be paid in cash."

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• Grupo IDESA has announced an exchange offer and consent solicitation for its outstanding 9.375% Senior Notes due 2026 for 6.50% Senior Notes due 2028 and cash consideration.

• Eligible Holders can choose between two options: Option A offers cash consideration and New Secured Notes while Option B offers only New Secured Notes - Subject to Early or Late submissions.

• The New Secured Notes will mature on the fifth anniversary of the settlement date and will be fully and unconditionally guaranteed by Etileno XXI and other Subsidiary Guarantors.

• The Offer and Solicitation are subject to certain conditions, including the requirement that the Company receive valid tenders of at least 85% of the aggregate outstanding principal amount of Existing Secured Notes.

• The Offer and Solicitation will expire on April 25, 2023.