NEW YORK, Oct. 2, 2020 /PRNewswire/ -- Atento S.A. (NYSE:
ATTO) ("Atento" or the "Company"), the largest provider of customer
relationship management and business-process outsourcing services
in Latin America, and among the
top five providers globally based on revenue, announces that its
wholly owned subsidiary, Atento Luxco 1 (the "Issuer"), has
terminated its previously announced tender offer (the "Tender
Offer") to purchase any and all of the Issuer's outstanding 6.125%
Senior Secured Notes due 2022 (the "Notes").
Capitalised terms used in this announcement but not otherwise
defined have the meanings given to them in the offer to purchase
dated September 18, 2020 (the "Offer
to Purchase").
The Issuer hereby announces that it has exercised its discretion
to terminate the Tender Offer in accordance with the terms and
conditions set out in the Offer to Purchase. Due to market
conditions, the Issuer has decided to postpone the previously
announced offering of new secured notes, the net proceeds of which
the Issuer intended to use, together with cash on hand, to finance
the Tender Offer. Accordingly, the Issuer has decided not to
proceed at this time with the Tender Offer. As at the time of this
announcement, the Financing Condition has not been satisfied. The
termination of the Tender Offer is unconditional and takes
immediate effect.
All Notes tendered pursuant to the Tender Offer will not be
purchased. All instructions in respect of tendered Notes will be
deemed to be revoked automatically and all Notes previously
tendered and not withdrawn will be promptly returned to their
respective Holders.
The Issuer thanks Holders for their engagement in the process
to-date and will review its options once market conditions
stabilize.
Information Relating to the Tender Offer
The Issuer retained Banco BTG Pactual S.A.–Cayman Branch, Itau
BBA USA Securities, Inc., Morgan
Stanley & Co. LLC, BB Securities Limited and BCP Securities,
LLC to serve as dealer managers for the tender offer. Ipreo LLC was
retained to serve as the information agent and the tender agent for
the tender offer.
Questions regarding the tender offer may be directed to: (i)
Atento at the details in the table below, (ii) Banco BTG Pactual
S.A.–Cayman Branch at +1 (212) 293-4600 (Collect), (iii) Itau BBA
USA Securities, Inc. at +1 (212)
710-6749 (Collect), (iv) Morgan Stanley & Co. LLC at +1 (800)
624-1808 (U.S. Toll Free) or +1 (212) 761-1057 (Collect), (v) BB
Securities Limited at +44 207 367 5800 or (vi) BCP Securities, LLC
at +1 (203) 629-2186.
This press release is for informational purposes only and is
not an offer to purchase or a solicitation of an offer to sell the
Notes or any other securities.
About Atento
Atento is the largest provider of customer relationship
management and business process outsourcing ("CRM BPO") services in
Latin America, and among the top
five providers globally, based on revenue. Atento is also a leading
provider of nearshoring CRM BPO services to companies that carry
out their activities in the United
States. Since 1999, the company has developed its business
model in 13 countries where it employs approximately 137,000
people. Atento has over 400 clients to whom it offers a wide range
of CRM BPO services through multiple channels. Atento's clients are
mostly leading multinational corporations in sectors such as
telecommunications, banking and financial services, health, retail
and public administrations, among others. Atento's shares trade
under the symbol ATTO on the New York Stock Exchange (NYSE). In
2019, Atento was named one of the World's 25 Best Multinational
Workplaces and one of the Best Multinationals to Work for in
Latin America by Great Place to
Work®. Atento is also the world's first CRM company to be ISO 56002
certified in Innovation Management. For more information visit
www.atento.com
Investor
Relations
Shay Chor
+55 11
3293-5926
shay.chor@atento.com
|
Investor
Relations
Fernando
Schneider
+ 55 11
3779-8119
fernando.schneider@atento.com
|
Media
Relations
Pablo Sánchez
Pérez
+34 670031347
pablo.sanchez@atento.com
|
Forward-Looking Statements
This press release contains
forward-looking statements. Forward-looking statements can be
identified by the use of words such as "may," "should," "expects,"
"plans," "anticipates," "believes," "estimates," "predicts,"
"intends," "continue" or similar terminology. These statements
reflect only Atento's current expectations and are not guarantees
of future performance or results. These statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those contained in the forward-looking statements.
In particular, the COVID-19 pandemic, and governments'
extraordinary measures to limit the spread of the virus, are
disrupting the global economy and Atento's industry, and
consequently adversely affecting the Company's business, results of
operation and cash flows and, as conditions are recent, uncertain
and changing rapidly, it is difficult to predict the full extent of
the impact that the pandemic will have. Risks and uncertainties
include, but are not limited to, competition in Atento's highly
competitive industries; increases in the cost of voice and data
services or significant interruptions in these services; Atento's
ability to keep pace with its clients' needs for rapid
technological change and systems availability; the continued
deployment and adoption of emerging technologies; the loss,
financial difficulties or bankruptcy of any key clients; the
effects of global economic trends on the businesses of Atento's
clients; the non-exclusive nature of Atento's client contracts and
the absence of revenue commitments; security and privacy breaches
of the systems Atento uses to protect personal data; the cost of
pending and future litigation; the cost of defending Atento against
intellectual property infringement claims; extensive regulation
affecting many of Atento's businesses; Atento's ability to protect
its proprietary information or technology; service interruptions to
Atento's data and operation centers; Atento's ability to retain key
personnel and attract a sufficient number of qualified employees;
increases in labor costs and turnover rates; the political,
economic and other conditions in the countries where Atento
operates; changes in foreign exchange rates; Atento's ability to
complete future acquisitions and integrate or achieve the
objectives of its recent and future acquisitions; future
impairments of our substantial goodwill, intangible assets, or
other long-lived assets; and Atento's ability to recover consumer
receivables on behalf of its clients. In addition, Atento is
subject to risks related to its level of indebtedness. Such risks
include Atento's ability to generate sufficient cash to service its
indebtedness and fund its other liquidity needs; Atento's ability
to comply with covenants contained in its debt instruments; the
ability to obtain additional financing; the incurrence of
significant additional indebtedness by Atento and its subsidiaries;
and the ability of Atento's lenders to fulfill their lending
commitments. Atento is also subject to other risk factors described
in documents filed by the company with the United States Securities
and Exchange Commission.
These forward-looking statements speak only as of the date on
which the statements were made. Atento undertakes no obligation to
update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise.
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SOURCE Atento S.A.