| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2019 > News item |
Thailand’s PTT announces tender for $500 million capital securities
By Wendy Van Sickle
Columbus, Ohio, Nov. 15 – PTT Exploration and Production PCL announced a cash tender offer for the $500 million of 4.6% subordinated perpetual capital securities issued by PTTEP Treasury Center Co. Ltd., according to a notice.
PTT Exploration guarantees the securities.
The company is offering $1,041.25 per $1,000 principal amount of securities, but in the event that 80% or more of the existing securities are tendered the consideration will jump to $1,046.25.
Holders will also receive accrued dividends.
If 80% or more of the securities are tendered under the offer, the issuer plans to call the remaining securities for redemption at par plus accrued dividends.
The offer will expire at 10:59 a.m. ET on Nov. 26.
Settlement is expected on Nov. 29.
Securities must be tendered in minimum denominations of $200,000 and integral multiples of $1,000 in excess thereof.
PTTEP Treasury Center is also offering dollar-denominated long-dated fixed-rate senior notes to be guaranteed by PTT Exploration. Holders who participate in the tender offer may be given preference in allocation of the new notes, the company said.
The dealer managers for the tender offer are Citigroup Global Markets Inc. (212 723 6106, +44 20 7986 8969, +852 2501 2552 and liabilitymanagement.asia@citi.com), Merrill Lynch (Singapore) Pte. Ltd. (888 292 0070, +44 20 7996 5420, +656 678 0000 and DG.LM-EMEA@bofa.com), Hongkong and Shanghai Banking Corp. Ltd. (888 292 0070, +44 20 7996 5420, +65 6678 0000 and liability.management@hsbcib.com) and Societe Generale (+65 63 26 70 34, +33 1 42 13 32 40, 855 881-2108 and liability.management@sgcib.com).
D.F. King Ltd. (+44 20 7920 9700, +852 3953 7230, +1 212 269 5550, 800 488-8075 and pttep@dfkingltd.com) is the information and tender agent.
The oil and gas company is based in Bangkok.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.