Hunt Oil Company of Peru L.L.C. Updates Tender Offer Deadlines
Hunt Oil Company of Peru L.L.C. Tender Offers Extended
Hunt Oil Company of Peru L.L.C., Sucursal del Perú ("HOCP") is officially extending the expiration time of its tender offers for cash regarding its outstanding 6.375% and 8.550% Trust Enhanced Senior Notes. This decision underscores the company’s commitment to providing additional opportunities for stakeholders to engage with the offers.
Details on the New Expiration Time
The renewed expiration time for the tender offers now stands at 8:00 a.m. New York City time, which corresponds to 7:00 a.m. Lima time, on April 15, 2025. This new timeline offers more flexibility for holders of the notes.
Background on the Tender Offers
These tender offers, initially laid out in an Offer to Purchase released at the end of March, aim to facilitate the purchase of any and all of HOCP's outstanding senior notes. To qualify for the specified consideration, holders must ensure their notes are timely and validly tendered before the new expiration time.
Importance of the Offers
As of the recent updates, approximately 52.99% of the 2028 Notes and 64.02% of the 2033 Notes have been tendered. This level of participation signifies investor confidence and reflects the company's ongoing dedication to maintaining strong financial relationships and empowering noteholders.
Current Financial Snapshot
HOCP's offer includes two notable series of notes: the 6.375% Trust Enhanced Senior Notes due in 2028 and the 8.550% Trust Enhanced Senior Notes due in 2033. The total original principal amount of these notes showcases the significant financial strategy behind these offerings.
Notes Participation Statistics
The current participation levels indicate that a substantial portion of the notes has been tendered without withdrawal, emphasizing the strategic importance of this financial maneuvering by HOCP as it shores up its position in the market.
Engagement with Dealer Managers
To facilitate inquiries regarding these offers, HOCP has recruited various dealer managers including BofA Securities, Citigroup Global Markets, and J.P. Morgan Securities. They stand ready to assist and clarify the terms and conditions surrounding these offers.
Accessibility of Offer Documents
For those seeking further information, the Offer Documents outlining all terms and conditions of the tender offers are readily available. The company encourages noteholders to familiarize themselves with these documents to make informed decisions regarding their investments.
About Hunt Oil Company of Peru
Hunt Oil Company of Peru plays a critical role within the Camisea Consortium, boasting a 25.2% interest in the License Contracts linked to the vast natural gas producing fields in the region. Specifically, they hold advantageous positions in Block 88 and Block 56, significant sources of natural gas production known for having the largest reserves in the country.
This strategic stake not only provides them operational capabilities in gas extraction but also underlines their investment in essential infrastructures like the Malvinas Plant and the Pisco Plant, crucial for processing and fractionating gas and liquids.
Frequently Asked Questions
What are the extended deadlines for the tender offers?
The new expiration time for the tender offers is 8:00 a.m. New York City time on April 15, 2025.
What types of notes are included in the tender offers?
The offers include the 6.375% Trust Enhanced Senior Notes due in 2028 and the 8.550% Trust Enhanced Senior Notes due in 2033.
What is the significance of these tender offers?
These offers allow noteholders a chance to sell their notes back to the company, ensuring liquidity and financial flexibility.
Who can assist with questions about the offers?
Investors can reach out to BofA Securities, Citigroup Global Markets, and J.P. Morgan Securities as dealer managers for inquiries regarding the tender offers.
How has the market responded to these offers?
Approximately 52.99% of the 2028 Notes and 64.02% of the 2033 Notes have already been tendered, indicating strong investor participation and confidence in the offers.
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