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Anton Oilfield sets minimum yield of new notes under exchange offer
By Marisa Wong
Los Angeles, July 13 – China’s Anton Oilfield Services Group announced that the minimum yield of the new notes to be issued under its exchange offer will be 8¾%.
Anton Oilfield had launched on July 6 an offer to exchange up to $150 million of its $289.9 million outstanding 7½% senior notes due 2022 held by non-U.S. persons outside of the United States for new notes.
The company is offering to exchange $1,000 of existing notes for $1,007.50 of new notes and accrued interest.
The tenor of the new notes will be 3.5 years.
The exchange deadline is 11 a.m. ET on July 16.
Settlement is planned for July 26.
The new notes will be listed on July 27.
Nomura International plc and Admiralty Harbour Capital Ltd. are the dealer managers for the offer.
D.F. King is the information and exchange agent.
Anton Oilfield is a Beijing-based provider of technical oil and gas field development services.
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