Cencosud S.A. announces the completion and settlement of its tender offers for its 5.500% Senior Notes (2021) and 4.875% Senior Notes (2023)

Santiago, July 25, 2017.-Cencosud S.A. (BCS: Cencosud) ("Cencosud") announced (1) the termination on July 25, 2017, of its previously announced cash tender offer (the "Maximum Offer Amount") up to the Maximum Principal Amount of its 4.875% Senior Notes due 2023 (the "Maximum Notes Offer Amount") and (2) the early settlement and settlement, respectively, on July 17, 2017, of the Maximum Offer Amount and the previously announced cash tender offer (the "Any and All Offer" and together with the Maximum Offer Amount, the "Tender Offers") for any and all of its 5.500% Senior Notes due 2021 (the "Any and All Notes"). The "Maximum Principal Amount" is US$750,000,000 less the aggregate principal amount of the Any and All Notes validly tendered and accepted for purchase in the Any and All Offer.

The Any and All Offer expired at 5:00 p.m., New York City time, on July 11, 2017 (the "Any and All Expiration Date"). As of the Any and All Expiration Date, valid deliveries were received with respect to US$429,853,000 of the US$750,000,000 aggregate principal amount of the Any and All Notes. With respect to the Maximum Offer Amount, as of the early delivery time and 5:00 p.m., New York City time, on July 11, 2017 (the "Early Delivery Date"), valid deliveries have been received with respect to US$882,156,000 of the US$1,200,000,000 aggregate principal amount outstanding of the Maximum Notes Offer Amount.

Cencosud has accepted for purchase all of the Any and All Notes validly tendered prior to the Any and All Expiration Date. On July 17, 2017, the bondholders received the purchase price of US$1,098.75 per US$1,000 principal amount of the Any and All Notes delivered, plus accrued and unpaid interest to, but not including, this date.

Cencosud has accepted for purchase US$257,147,000, the Maximum Principal Amount Aggregate, of the Maximum Notes Offer Amount validly tendered prior to the Early Delivery Date. On July 17, 2017, the bondholders received the purchase price of US$1,082.50 per US$1,000 principal amount of the Maximum Notes Offer Amount delivered, including the early delivery premium plus accrued and unpaid interest to, but not including, this date. The Maximum Offer expired at 11:59 p.m., New York City time, on July 25, 2017. Since the Tender Offers were fully subscribed as of the Early Delivery Date, the Company did not accept for purchase any Maximum Notes Offer Amounts delivered after the Early Delivery Date. Any Maximum Notes Offer Amounts delivered after the Early Delivery Date were returned to the holders as described in the Tender Offer.

This announcement is for informational purposes only and does not constitute an offer or solicitation to buy or an offer to sell securities. The New Bonds have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the New Bonds or any other securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which, or to any person to whom, such offer, solicitation, or sale would be unlawful.

Information regarding the public acquisition offer

J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as the administrators of the operation for the Acquisition Offers. The information and depositary agent is Global Bondholder Services Corporation ("GBS"). Copies of the Purchase Offer, Transmittal Letter, and Guaranteed Delivery Notice, regarding the Any and All Offer, and related offer materials are available by contacting GBS at (866) 470-3800 (toll-free), (212) 430-3774 (banks and brokers), or www.gbsc-usa.com/Cencosud/. Questions regarding the Acquisition Offer should be directed to JP Morgan Securities LLC, Latin America Capital Debt Markets, at (212) 834-7279 (collect) or (866) 846-2874 (toll-free), or Merrill Lynch, Pierce, Fenner & Smith Incorporated, Civil Liability Management Group, at (646) 855-8988 or (888) 292-0070 (toll-free).

This press release does not constitute an offer to sell, a solicitation of an offer to buy, or an offer to buy or sell securities. The Acquisition Offer is made solely in accordance with a Purchase Offer dated June 27, 2017, which sets forth the terms and conditions of the Acquisition Offer, and only in jurisdictions permitted by applicable law.

Disclosure regarding forward-looking statements

The statements contained in this press release that contain the intentions, expectations, or predictions of the future of the Company or its management are forward-looking statements. Specifically, the Company cannot assure you that the proposed transactions described above will be consummated on the terms currently contemplated, if at all. Actual results may differ materially from those projected in the forward-looking statements. Additionally, information regarding factors that could cause actual results to differ materially is contained from time to time in the Company's submissions to the Securities and Exchange Commission, including but not limited to the Company's Annual Reports on Form 20-F for the year ended December 31, 2016. The Company disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events, or otherwise.

Did you find this information useful?

Need Help?

Contact us!

Contact us. Complete the contact form of the business/country based to your need.

Learn More
Be a Cencosud supplier!

Join the New Businesses Portal. Register your business and be part of Cencosud.

Learn More
#WorkWithUs

Join our team!

Learn More