Hunt Oil Company of Peru L.L.C. Extends Tender Offer Deadlines
All Other Terms and Conditions for Tender Offers Remain Unchanged
Hunt Oil Company of Peru L.L.C., Sucursal del Perú, known as HOCP, has recently announced an extension affecting its ongoing cash tender offers. These offers involve its outstanding 6.375% Trust Enhanced Senior Notes due in 2028 and 8.550% Trust Enhanced Senior Notes due in 2033. This strategic move is a crucial aspect of HOCP's operations as it aims to optimize its financial structure.
Tender Offers and New Expiration Time
The company shared that the expiration time for these tender offers has now been set for 8:00 a.m. New York City time, translating to 7:00 a.m. Lima time on April 8, 2025. Holders of the respective notes are encouraged to participate within this timeframe to ensure they secure the intended consideration outlined in the offer details.
Eligibility for Consideration
To qualify for the stipulated consideration, all holders must validly tender their notes before the set expiration time. Furthermore, any tender or delivery must not be withdrawn before the withdrawal date, which coincides with the expiration time unless HOCP decides to extend the offer. This careful structuring ensures that investors can make the most of their investments with clarity and certainty.
Latest Participation and Tender Details
As of a recent update provided by Global Bondholders Services Corporation, it was noted that a significant portion of the notes has been tendered. Approximately 51.17% of the 2028 notes and 63.51% of the 2033 notes have been successfully accepted for tender as of 5:00 p.m. New York City time on April 4, 2025. This positive momentum indicates strong investor interest and participation.
Comprehensive Terms and Conditions
It's essential to note that all key terms and conditions regarding the tender offers are detailed in the accompanying Offer to Purchase documents. HOCP emphasizes that aside from the newly adjusted timelines, all other previously established conditions remain unchanged, ensuring consistency for investors.
Engaged Dealer Managers for Support
For questions or further information about the tender offers, HOCP has enlisted well-known financial institutions as Dealer Managers. Investors can reach out to BofA Securities, Citigroup Global Markets, Credicorp Capital, and J.P. Morgan Securities for assistance. Their expertise is valuable in navigating any queries or concerns related to the offers.
Accessing Offer Documents
Investors seeking detailed information on the tender offers can access the Offer Documents via the specified web address. Furthermore, Global Bondholder Services Corporation serves as the Information and Tender Agent, ready to assist any inquiries from investors, ensuring they have all necessary resources at hand.
Understanding the Impact of the Offers
The purpose of extending the tender offers reflects HOCP's commitment to optimizing its financial strategies amid fluctuating market conditions. This reflects not only the company's proactive approach but also its intention to better serve its bondholders' interests during these crucial periods.
About Hunt Oil Company of Peru
HOCP is a vital participant in the Camisea Consortium, holding a 25.2% share in the License Contracts for one of the largest natural gas fields in Peru. Their role within this consortium is critical, as they contribute significantly to the natural gas production that powers many sectors within the country. The company's interest in both Block 88 and Block 56 underscores its dedication to being at the forefront of Peru's natural gas sector.
Frequently Asked Questions
What are the newly set deadlines for the tender offers?
The new expiration time for the tender offers is set for 8:00 a.m. New York City time on April 8, 2025.
How can investors participate in the tender offers?
Investors must validly tender their notes before the expiration time and may not withdraw their tender before the established withdrawal date.
Who are the Dealer Managers assisting with the tender offers?
BofA Securities, Citigroup Global Markets, Credicorp Capital, and J.P. Morgan Securities are engaged to assist investors with any questions.
Where can investors find the offer documents?
The Offer Documents can be accessed at the specified web address provided by HOCP.
What is HOCP's role in the Camisea Consortium?
HOCP holds a 25.2% interest in the License Contracts related to one of the largest natural gas producing fields in Peru, contributing significantly to the sector's development.
