Business Context and Reporting Period
This Form 6-K filing by Cementos Pacasmayo S.A.A. (Pacasmayo Cement Corporation) reports a "Relevant Fact" regarding the settlement of a tender offer for its debt securities. The reporting date is December 11, 2018.
Key Financial Metrics
The filing details the financial settlement of a tender offer for the Company's 4.50% Senior Notes due 2023. The filing does not provide general operating metrics such as revenue, profit, or cash flow for the period.
| Metric | Value |
|---|---|
| Aggregate Principal Amount Tendered (Early Tender Date) | U.S.$168,388,000 |
| Percentage of Total Outstanding Notes Tendered | 56.13% |
| Total Cash Paid for Settlement | U.S.$171,818,905.70 |
| Purchase Price per $1,000 Principal | U.S.$1,005.00 |
| Early Tender Premium | U.S.$30.00 per $1,000 principal |
Material Changes
The primary material change is the reduction of the Company's outstanding debt load following the settlement of approximately 56.13% of the 4.50% Senior Notes due 2023. The Company paid a premium over the principal amount to incentivize early tendering.
Outlook, Risks, and Unusual Items
- Tender Offer Status: The tender offer remains open and is scheduled to expire at 11:59 p.m. (New York City time) on December 21, 2018, unless extended or terminated earlier by the Company.
- Future Acceptance: Acceptance of additional notes after the Early Tender Date is subject to the Maximum Tender Amount (originally announced as up to U.S.$150,000,000 aggregate principal).
- Payment Components: The settlement payment included the principal, the early tender premium, and accrued unpaid interest up to, but excluding, the settlement date.
Investor Verification Checklist
- Verify the final total amount of notes tendered by the expiration date of December 21, 2018.
- Confirm the remaining outstanding principal balance of the 4.50% Senior Notes due 2023 post-settlement.
- Review the Company's liquidity position following the cash outflow of approximately U.S.$171.8 million.
- Check for any subsequent filings regarding the termination or extension of the tender offer.