SierraCol Energy Announces Early Tender Results
SierraCol Energy Andina, LLC has shared significant findings regarding its Tender Offer which aims to acquire up to U.S.$300,000,000 in total principal amount of its 6.000% Notes due 2028.
Details released indicate that SierraCol Energy Limited has reported the early tender results of its Tender Offer, allowing the Company to purchase cash-based notes. This offering by SierraCol Energy Andina, LLC, an essential subsidiary of SierraCol Energy, pertains specifically to U.S.$300,000,000 worth of its 6.000% Notes due 2028 (referred to as the "Notes"). The Tender Offer corresponds with the provisions in an offer to purchase dated October 23, 2025, and it adheres to certain conditions that include the acquisition of adequate proceeds from a forthcoming issuance of senior debt securities, known as the "New Notes."
Key Results from the Tender Offer
As of 5:00 p.m. on the noted date, a total of U.S.$504,578,000 in aggregate principal amount of the Notes has been validly tendered and not withdrawn. Each U.S.$1,000 principal amount of Notes accepted for purchase at or before the Early Tender Time will yield U.S.$1,000; this figure encompasses an early tender payment of U.S.$50 per U.S.$1,000 principal amount.
Holders whose Notes are accepted through this Tender Offer will also earn accrued interest from the last interest payment up to, but not including, the settlement date. The Company plans to acquire U.S.$300.0 million of Notes tendered before the Early Tender Time. The right for an early settlement date remains unexercised, but the Company may opt for this prior to the Expiration Time.
Understanding the Tender Offer Process
The detailed schedule of the Tender Offer outlines its expiration at 5:00 p.m. on November 21, 2025. Holders had until 5:00 p.m. on November 5, 2025, to withdraw their offers, which means that any Notes tendered at that point are irreversible. Holders who submit their Notes after the Early Tender Time, but before the Expiration Time, will receive U.S.$950 per U.S.$1,000 principal amount of Notes. Importantly, the Company will only accept Notes up to the Maximum Amount of U.S.$300,000,000.
As the Maximum Amount has been reached concerning tenders of Notes before the Early Tender Time, no additional purchases will be accepted under the current circumstances.
Company's Flexibility in the Offer
In accordance with legal stipulations, the Company retains the right to, at any time: waive any conditions of the Tender Offer, amend terms, terminate the Offer, increase the Maximum Amount, or adjust the Expiration Time. These changes can be made without re-opening the withdrawal rights for Holders, contingent on complying with applicable laws.
Engaging with Dealer Managers and the Information Agent
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., and J.P. Morgan Securities LLC are designated as dealer managers for the Tender Offer. Interested parties can reach out for inquiries through provided contact numbers and email addresses.
For obtaining the Offer to Purchase, Holders are advised to contact Global Bondholder Services Corporation (GBSC), the designated information and tender agent, through specified contact methods for timely access.
About SierraCol Energy
SierraCol Energy stands as the leading independent exploration and production firm in Colombia, boasting full life-cycle operations spanning exploration, production, and development. The Company effectively manages a robust portfolio characterized by resilient cash flow creation, with strategic advice provided by The Carlyle Group.
For further inquiries, interested parties may reach out via the available contact details or visit the official website.
Frequently Asked Questions
What is the purpose of the early tender offer by SierraCol Energy?
The early tender offer aims to purchase up to U.S.$300 million of the company's 6.000% Notes due 2028, allowing holders to convert their notes to cash at favorable terms.
What happens if I miss the early tender deadline?
If you miss the early tender deadline, you may still participate but will receive a lower consideration amount after the early tender period closes.
Who can I contact for more information about the Tender Offer?
You may contact Citigroup Global Markets Inc., Deutsche Bank Securities Inc., or J.P. Morgan Securities LLC for further details regarding the Tender Offer.
What is the maximum amount of Notes that can be purchased?
The maximum amount of Notes that SierraCol Energy intends to purchase is U.S.$300 million, as specified in the Tender Offer.
What are the consequences of accepting the Tender Offer?
If you accept the offer, you will receive cash consideration for your Notes, along with any accrued interest calculated until the settlement date.
