Grupo Papelero Scribe, S.A. de C.V. manufactures paper products for the Mexican market. It offers printing and writing paper, educational material, folders, colored pencils, blocks, and notebooks. The company markets its products under the brand name Scribe. It operates four mills with an installed capacity of 450 thousand tons for paper and 98 thousand tons for wood pulp. Grupo Papelero Scribe, S.A. de C.V. was formerly known as Papeles Industriales de Michoacán, S.A. de C.V. and changed its name to Grupo Papelero Scribe, S.A. de C.V. in January 2007. The company was founded in 2003 and is based in Mexico City, Mexico. Grupo Papelero Scribe, S.A. de C.V. operates as a subsidiary of Corporac...
José Luis Lagrange No. 103
Colonia Los Morales Polanco
Delegación Miguel Hidalgo
Mexico City, DF 11510
Founded in 2003
Grupo Papelero Scribe, S.A. De C.V. Announces Commencement of Consent Solicitation
Sep 12 14
Grupo Papelero Scribe, S.A. de C.V. announced that it has commenced a solicitation of consents upon the terms and subject to the conditions set in a Consent Solicitation Statement (as it may be amended or supplemented from time to time, the "Statement") and the accompanying Form of Consent, each dated as of September 12, 2014, to the Proposed Amendment to the Indenture, dated as of April 7, 2010, by and among the Company, GPS Trading, S.A. de C.V. and Silvicultora Saraya, S.A. de C.V. as subsidiary guarantors (the "Subsidiary Guarantors"), Deutsche Bank Trust Company Americas, as trustee (the "Trustee"), and Deutsche Bank Luxembourg S.A., as Luxembourg paying agent, governing its 8.875% Senior Guaranteed Notes due 2020. The Proposed Amendment would amend the Indenture in connection with the consummation of the transactions contemplated by the Contrato de Compraventa de Acciones (Stock Purchase Agreement), dated as of August 21, 2014 (as amended from time to time, the "Purchase Agreement"), by and among the Company, Deutsche Bank Mexico, S.A. Institucion de Banca Multiple, Division Fiduciaria, as trustee of Administrative Trust No. F/442, dated as of September 5, 2006 (the "Seller"), Grupo Bio Pappel, S.A. de C.V. (the "Buyer"), and corporation Scribe, S.A.P.I. de C.V. (the "Corporation"), pursuant to which the Seller will sell and transfer to the Buyer, and the Buyer will acquire from the Seller, all of the then outstanding ordinary shares of the Corporation and all of the then outstanding ordinary shares of the Company (such transaction, the "Acquisition"). The Acquisition would constitute a Change of Control under the Indenture, requiring the Company to make an offer to repurchase all or any part of each holder's Notes at a purchase price equal to 101% of the aggregate principal amount thereof, plus accrued and unpaid interest and additional amounts, if any, on the applicable Notes repurchased, to, but not including, the date of such repurchase. The Company is therefore seeking consents from the holders of the Notes to amend the definition of "Permitted Holders" in the Indenture so that the Acquisition does not constitute a "Change of Control" thereunder.