|By PR Newswire||
|March 21, 2014 09:38 AM EDT||
NEW YORK, March 21, 2014 /PRNewswire/ -- Certain holders (the "Noteholders") of 8.875% Senior Guaranteed Notes due September 25, 2014, 9.25% Senior Guaranteed Notes due June 30, 2020 and 8.875% Senior Guaranteed Notes due March 27, 2022 (collectively, the "Notes") issued by Corporacion GEO, S.A.B. de C.V. ("GEO") have executed agreements to support the framework of a restructuring of the outstanding indebtedness of GEO and certain of its subsidiaries and controlled affiliates (together, the "Company") to be implemented through a concurso mercantil con plan de reestructura previo before Mexican courts. The agreements and other pertinent information are attached to or otherwise set forth in the public release issued earlier today by GEO (the "GEO Release"), which the Company will be posting on its website (www.casasgeo.com) and on the Mexican stock exchange's website (www.bmv.com.mx).
During the restructuring negotiations, the Noteholders were made aware of the transactions negotiated and subsequently consummated among the Company, certain of the Company's Mexican banks, and Mr. Luis Orvananos Lascurain to obtain liquidity for the Company's operations, preserve the possibility of future bridge loan funding and address certain defaults (including with respect to certain covenants, the use of collateral to secure such facilities rendering the lenders thereunder unsecured, and other matters) under certain factoring facilities. Certain details of these transactions were set forth in the GEO Release and in the Restructuring Indicative Term Sheet attached as Annex C thereto under the heading "Liquidity and Factoring Transactions." The Noteholders understand that certain parties have suggested that the Company's defaults under such factoring facilities might give rise to personal liability on the part of certain members of the Company's management. The Noteholders further understand that the Company and its management dispute that any such liability exists or existed and will vigorously contest any assertions thereof. The Noteholders have not done any independent analysis regarding the defaults that occurred or the viability of the claims, if any, that may be asserted as a result thereof.
Information relating to GEO and certain of its affiliates set forth below was provided by GEO and its representatives during the course of the negotiations described below. Such information was provided under the terms of the Confidentiality Agreement, dated September 4, 2013, as amended, between GEO and the Noteholders, which specifically disclaimed any representation as to the accuracy of the information provided. In addition, the information regarding GEO and certain of its affiliates has not been independently reviewed, verified or confirmed by the Noteholders. Accordingly, the Noteholders make no representation as to the accuracy of any such information. In addition, there is no assurance that the information set forth herein has not changed, possibly materially, since the date it was provided to the Noteholders. The Noteholders disclaim any duty, and do not accept any responsibility or obligation, to update or correct any information set forth in this press release based on events occurring, or information received, subsequent to the date hereof. The disclosure of these materials should not be regarded as an indication that any Noteholder GEO, or any other person considered, or now considers, this information to be predictive of actual future results, and does not constitute an admission or representation by any person that such information is material. The Noteholders do not assume and hereby affirmatively disclaim any and all liability under applicable law arising from the public disclosure of this release and materials set forth herein. Readers are cautioned not to place any reliance on this release and these materials.
Contact: Allan Ripp/Ripp Media 212-262-7477 [email protected]
SOURCE Ad Hoc Group of Corporacion GEO Noteholders
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Apr. 23, 2017 01:45 PM EDT Reads: 1,714
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 23, 2017 01:15 PM EDT Reads: 4,649
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Apr. 23, 2017 01:00 PM EDT Reads: 1,887
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
Apr. 23, 2017 01:00 PM EDT Reads: 3,143
Back in February of 2017, Andrew Clay Schafer of Pivotal tweeted the following: “seriously tho, the whole software industry is stuck on deployment when we desperately need architecture and telemetry.” Intrigue in a 140 characters. For me, I hear Andrew saying, “we’re jumping to step 5 before we’ve successfully completed steps 1-4.”
Apr. 23, 2017 12:45 PM EDT Reads: 1,243
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Apr. 23, 2017 11:45 AM EDT Reads: 2,173
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Apr. 23, 2017 11:30 AM EDT Reads: 2,394
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Apr. 23, 2017 11:15 AM EDT Reads: 620
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 23, 2017 10:15 AM EDT Reads: 493
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Apr. 23, 2017 09:45 AM EDT Reads: 1,796
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
Apr. 23, 2017 09:15 AM EDT Reads: 814
As pervasive as cloud technology is -- and as persuasive as the arguments are for using it -- the cloud has its limits. Some companies will always have security concerns about storing data in the cloud and certain high-transaction applications will always be better suited for on-premises storage. Those statements were among the bottom-line takeaways delivered at Cloud Expo this week, a three day, bi-annual event focused on cloud technologies, adoption and associated challenges.
Apr. 23, 2017 08:15 AM EDT Reads: 3,671
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Apr. 23, 2017 07:45 AM EDT Reads: 1,819
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
Apr. 23, 2017 07:15 AM EDT Reads: 1,461
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Apr. 23, 2017 07:00 AM EDT Reads: 1,515