SANTIAGO, Chile, Nov. 22, 2025 /PRNewswire/ -- Automotores Gildemeister SpA (the "Company") today announced that AG Chile Holding II SpA, a newly incorporated holding company (the "Issuer"), has commenced (i) an offer to all Eligible Holders (as defined herein) of the Company's 7.50% Junior Secured Notes due 2027 (the "Existing Junior Notes") to exchange (the "Existing Junior Notes Exchange Offer") any and all of their outstanding Existing Junior Notes for new 7.50% Senior Secured PIK Toggle Notes due 2032 (the "New 2032 Notes") to be issued by the Issuer, and cash, and (ii) an offer to all Eligible Holders of the Company's 10.00% Subordinated Notes due 2035 (the "Existing Subordinated Notes" and, together with the Existing Junior Notes, the "Existing Notes") to exchange (the "Existing Subordinated Notes Exchange Offer" and, together with the Existing Junior Notes Exchange Offer, the "Exchange Offers" and each, an "Exchange Offer") any and all of their outstanding Existing Subordinated Notes for new 10.00% Subordinated Secured PIK Toggle Notes due 2035 (the "New 2035 Notes" and, together with the New 2032 Notes, the "New Notes") to be issued by the Issuer, and cash. Upon the consummation of the Exchange Offers and the related Consent Solicitations (as defined herein), the Issuer will become the parent of the Company. The New Notes will bear interest at a rate and in the manner set forth in the Exchange Offering Memorandum (as defined herein) and will have such other terms and provisions as described in the Exchange Offering Memorandum.

In connection with the Exchange Offers, the Issuer is soliciting consents (such consents, the "Consents" and such solicitations, the "Consent Solicitations" and each, a "Consent Solicitation") from Eligible Holders of the Existing Notes to adopt certain proposed amendments (the "Proposed Amendments") to the indentures governing the Existing Notes (the "Existing Notes Indentures") to (a) eliminate substantially all of the restrictive covenants, certain events of default and related provisions and definitions contained in each of the Existing Notes Indentures and the Existing Notes and (b) with respect to the Existing Junior Notes and the indenture governing the Existing Junior Notes only, release the liens on all of the collateral securing such Existing Junior Notes and eliminate any requirement to provide collateral in the future to secure the Existing Junior Notes.

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