HomeFed Corp. (HOFD: OTCQB) | HomeFed Corporation Announces Increase in Aggregate Principal Amount and Extension of Asset Sale Offer for 6.50% Senior Notes Due 2018


HomeFed Corporation Announces Increase in Aggregate Principal Amount and Extension of Asset Sale Offer for 6.50% Senior Notes Due 2018

Jan 08, 2016

OTC Disclosure News Service

HomeFed Corporation (the “Company”) announced today it has amended its
previously announced offer to purchase up to $514,197 (the “Original
Asset Sale Offer” and, as amended herein, the “Asset Sale Offer”) of its
6.50% Senior Notes due 2018 (CUSIP NOs. 43739D AA7; 43739D AB5;
U4372TAA3) (the ” Notes”) to increase the aggregate principal amount of
its offering to purchase to up to $619,225 of its outstanding Notes as a
result of receiving additional proceeds from the sale of additional
properties in Maine, as described below. As a result, the Company also
announced that it has extended the Expiration Date of the Asset Sale
Offer from 5:00 P.M. New York City time, on January 8, 2016 to 5:00 P.M.
New York City time, on January 25, 2016.

On January 7, 2016, pursuant to a purchase and sale agreement, the
Company sold a portion of its Maine Properties (as defined in the
Indenture (the “Indenture”), dated as of June 30, 2015, by and among the
Company, Wilmington Trust, National Association, as Trustee, and the
guarantors named therein pursuant to which the Notes were issued) and
received net proceeds of $105,028 (an “Additional Maine Property Sale”).
As a result of this Additional Maine Property Sale, a Fundamental
Property Asset Sale (as defined in the Indenture) occurred and the
Company’s Asset Sale Offer is hereby amended to include an aggregate of
up to $619,225 of the Notes.

The Asset Sale Offer is made pursuant to the Offer to Purchase and the
related Letter of Transmittal, each dated as of December 10, 2015. The
other terms, conditions and timing of the Asset Sale Offer remain

This press release is neither an offer to purchase nor a solicitation to
buy any of these Notes, nor is it a solicitation for acceptance of the
Asset Sale Offer. The Company is making the Asset Sale Offer only by,
and pursuant to the terms of, the Offer to Purchase and the related
Letter of Transmittal. The Asset Sale Offer is not being made in any
jurisdiction in which the making or acceptance thereof would not be in
compliance with the securities, blue sky or other laws of such
jurisdiction. None of the Company or its affiliates, the Depositary or
the Paying Agent is making any recommendation as to whether or not
holders should tender their Notes in connection with the Asset Sale

The complete terms and conditions of the Asset Sale Offer are set forth
in the Offer to Purchase and Depositary Agreement that are being sent to
holders of the Notes. Holders are urged to read the Asset Sale Offer
documents carefully. Copies of the Offer to Purchase and Letter of
Transmittal may be obtained from the Paying Agent for the Asset Sale
Offer, Wilmington Trust, National Association, at the address below:




By Registered or Certified

For Other Inquiries or

Mail, Overnight Courier or


Hand Delivery:


Wilmington Trust, National

DTC Desk



Rodney Square North

1100 North Market Street

Wilmington, DE 19890-1615

Attn: Workflow Management


Cautionary Statement Concerning Forward-looking

NOTE: This release may include or incorporate by reference certain
statements that we believe are, or may be considered to be,
“forward-looking statements” within the meaning of various provisions of
the Securities Act of 1933 and of the Securities Exchange Act of 1934.
These forward-looking statements generally can be identified by use of
statements that include phrases such as “believe,” “expect,” “estimate,”
“anticipate,” “intend,” “plan,” “project” or other similar words or
phrases. Similarly, statements that describe our objectives, plans or
goals also are forward-looking statements. The company cautions readers
that such forward-looking statements involve risks and uncertainties
that could cause actual results to differ materially from those
currently expected by management, including those risks and
uncertainties discussed in HomeFed’s Annual Report on Form 10-K for the
year ended December 31, 2014 and Quarterly Report on Form 10-Q for the
quarters ended March 31, 2015, June 30, 2015 and September 30, 2015 as
updated in its subsequent Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K filed with or furnished to the Securities and
Exchange Commission. Except as required by law, HomeFed disclaims any
obligation to update any forward-looking statements to reflect future
developments or events. These forward-looking statements speak only as
of the date hereof, and HomeFed expressly disclaims any intent or
obligation to update these forward-looking statements.. We urge you to
consider these factors carefully in evaluating the forward-looking

HomeFed Corporation (OTCMKTS:HOFD) is engaged in the investment in and
development of residential and commercial real estate properties in
California, Florida, Maine, New York, South Carolina and Virginia.
HomeFed also actively investigates and pursues the acquisition of new
residential and commercial real estate projects.

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