FESCO announces early bird tender results for Senior Secured Notes due 2018 and 2020

21 April 2015
FESCO Transportation Group (the «Company») announces the results of the early bird tender offer targeting its $550 mln 8.00% Senior Secured Notes due 2018 and $325 mln 8.75% Senior Secured Notes due 2020.

As at the early tender time (being 10.00 p.m., London time / 5:00 p.m., New York time on 17 April 2015), the aggregate principal amount of the 2018 Notes and 2020 Notes validly tendered pursuant to the offer was equal to U.S.$128.65m and U.S.$88.85m, respectively. In total, as at the early tender time noteholders had tendered U.S.$217.51m in aggregate principal amount of both issues of Notes.

Additionally, the Company hereby makes the following amendments to the offer:

(i) The Company increases the maximum payment amount from U.S.$85m to U.S.$ 130m.

(ii) The offer is extended so that the expiration time will be 10.00 p.m., London time (5:00 p.m., New York time), on 4 May 2015 (subject to the right of the Company, at its sole discretion, to amend, extend, re-open and/or terminate the offer, as applicable) and the announcement of final results of the Offer will be made on 5 May 2015. The settlement date is expected to be 7 May 2015. All other dates remain as per the expected timetable in the offer to purchase, as amended.
The Company launched the cash tender offer targeting its $550 mln 8.00% Senior Secured Notes due 2018 and $325 mln 8.75% Senior Secured Notes due 2020 on 31 March 2015. A comprehensive description of the terms of the offer is presented in the offer to purchase dated 31 March 2015 and an announcement dated 7 April 2015.

For any further information regarding the offer, please contact:

(iii) Requests for documents may be directed to the Tender Agent, D. F. King, at +44 207 920 9700 in London and at +1 212 269 5500 in New York (or at a toll-free number for the U.S. (800) 591–6309). Otherwise please email fesco@dfking.com or visit the website at: www.dfking.com/fesco.

(iv) Questions regarding the Offer may be directed to the Dealer Manager, at +44 20 7677 5040 outside the U.S. and at (800) 624–1808 (toll free) or (212) 761–1057 (collect) in the U.S or by emailing liabilitymanagementeurope@morganstanley.com.

NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

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