Petroleos del Peru – Petroperu gets OK to amend 2032, 2047 notes

By Mary-Katherine Stinson

Lexington, Ky., June 7 – Petroleos del Peru – Petroperu SA received the required consents from holders of its outstanding 4¾% notes due 2032 and 5 5/8% notes due 2047 to a proposed amendment to the indentures governing the notes, according to a press release.

As previously reported, the purpose of the proposed amendment was to extend the timeframe for the company to deliver its audited financial statements after the end of fiscal year 2022 under section 10.09(a)(i) of each indenture to Sept. 30, solely if the company does not deliver its audited financial statements on or before July 29.

The consent solicitation expired at 5 p.m. ET on June 6.

The proposal required consents from holders of a majority of the outstanding principal amount of each series.

The company will pay a cash consent fee of $0.50 for each $1,000 principal amount of notes on or before June 8 and, only if the company does not deliver its audited financial statements for fiscal year 2022 on or before July 29, an additional cash consent fee of $0.50 for each $1,000 of notes.

Citigroup Global Markets Inc. (212 723-6106), HSBC Securities (USA) Inc. (888 HSBC-4LM), J.P. Morgan Securities LLC (866 876-2874) and Santander US Capital Markets LLC (855 404-3636) are the solicitation agents.

The information and tabulation agent is Global Bondholder Services Corp. (855 654-2014).

Petroperu is a Lima-based petroleum company 100% owned by Peru.

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