China’s Anton Oilfield reports $102.74 million tenders in offer for 2020 notes

By Wendy Van Sickle

Columbus, Ohio, March 4 – Anton Oilfield Services Group took in tenders of $102,737,000 notes by the deadline of its offer to purchase for cash up to $100 million of its 9¾% senior notes due 2020, according to a news release.

The total represents 34.25% of the outstanding notes.

The company said it lifted the tender cap to equal the amount of tenders received by the deadline of the offer, March 4 at 11 a.m. ET.

Also, the company said it separately reported $4 million of the notes, which will also be canceled.

The price will be 101.875 plus accrued interest to the settlement date, which is expected on March 9.

Following settlement, $193,263,000 of the notes will remain outstanding.

Nomura International plc and Admiralty Harbour Capital Ltd. are acting as the dealer managers of the offer, and D.F. King is acting as the information and tender agent.

The company plans to finance the offer with the proceeds from internal funding.

Anton Oilfield is a Beijing-based provider of technical oil and gas field development services.

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