Press Release For Immediate Release
Cap Cana, S.A. Extends Exchange Offer
Santo Domingo, Distrito Nacional, Dominican Republic, May 15, 2017 Cap Cana, S.A. announced today that it has extended until 5:00 p.m., New York City time, June 15, 2017, unless further extended, its offer to exchange any and all of its outstanding 10% Senior Secured Notes due 2016 (the “Senior Notes”) and its outstanding 10% Senior Secured Recovery Notes due 2016 (the “Recovery Notes” and, together with the Senior Notes, the “Existing Notes”) for consideration consisting of, with respect to each $1,000 principal amount of Existing Notes validly tendered and accepted in the exchange offer, an equal aggregate principal amount of newly issued 10% Senior Secured Notes due 2024 of Caribbean Debt Recovery, Ltd. (the “New Notes”) in the case of Senior Notes and a principal amount equal to 127.3580438% of the original principal amount thereof, in the case of the Recovery Notes. Holders owning approximately 51.3% in aggregate principal amount of the Senior Notes and approximately 51.4% in aggregate principal amount of the Recovery Notes have entered into an agreement with Cap Cana pursuant to which they have agreed to tender their Existing Notes. As of May 15, 2017, holders of approximately $56,441,000 aggregate principal amount of the outstanding Senior Notes (constituting approximately 58.77% of the principal amount of the outstanding Senior Notes) and holders of approximately $55,094,000 of the aggregate principal amount of the outstanding Recovery Notes (constituting approximately 58.92% of the principal amount of the outstanding Recovery Notes) have delivered valid tenders pursuant to the offer. Holders who have already tendered their Existing Notes do not have to re-tender their notes or take any other action as a result of the extension of the expiration date of this exchange offer.
Other than the extension described in this announcement, all of the terms of the exchange offer remain unchanged. The terms of the exchange offer and other information relating to Cap Cana are set forth in the Exchange Offer Statement dated March 15, 2017.
Wilmington Savings Fund Society, FSB has been appointed as exchange agent for the exchange offer. You should direct questions and requests for assistance regarding the tender of the Existing Notes or requests for additional copies of the Exchange Offer Statement or Letter of Transmittal to the exchange agent addressed as follows:
|By Registered or Certified Mail:
Wilmington Savings Fund Society, FSB
Attention: Corporate Trust, Cap Cana
|By Email or Facsimile Transmission (for eligible institutions only):
To Confirm by Telephone Inquiries:
Banks and Brokers call: (302) 571-7014
|By Overnight Courier or Hand Delivery|
|Wilmington Savings Fund Society, FSB
500 Delaware Avenue
Wilmington, DE 19801Attention: Corporate Trust, Cap Cana
Questions regarding other matters should be directed to Cap Cana to the following individuals:
By regular mail:
Jorge A. Subero Medina
Cap Cana, S.A.
Ave. Máximo Gómez No. 60, Plaza Paseo del Teatro, Suite 214, La Esperilla
Santo Domingo, Distrito Nacional
Attention: Francisco Merejo
Jorge Subero: firstname.lastname@example.org;
Francisco Merejo: email@example.com
Jorge Subero or Francisco Merejo
Telephone: 1(809) 287-4107
This announcement shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer to, or solicitation of, any person or entity in any jurisdiction in which it is unlawful to make such an offer to or solicitation of such person or entity.
About Cap Cana, S.A.
Located on the eastern shores of the Dominican Republic, Cap Cana is a large multiuse Caribbean resort featuring championship golf, yachting, equestrian and eco-park facilities, beaches and other leisure amenities, and is one of the largest premium destinations in the Caribbean. The property covers approximately 46 square miles (119.9 square kilometers) of land, including approximately 5.0 miles (8.0 kilometers) of coastline and approximately 2.2 miles (3.5 kilometers) of beaches. Because of its vicinity to the Punta Cana International Airport (“PUJ”), which is located less than 10 minutes away, Cap Cana receives nonstop flights from large metropolitan centers in Europe, Canada and the United States, including daily direct flights from Miami (approximately two hours) and New York (approximately three hours), making the Cap Cana destination easily accessible to numerous international markets.
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Cap Cana, S.A.
Jorge Subero: firstname.lastname@example.org; 1(809) 287-4107.
Francisco Merejo: email@example.com; 1(809) 287-4107.