Petrobras Argentina to issue new notes with tender offer

By Christine Van Dusen and Susanna Moon

Atlanta, July 7 – Petrobras Argentina SA is planning to issue new notes concurrently with a tender offer for its 5 7/8% series S notes due 2017 until 11:59 p.m. ET on Aug. 2, according to a company announcement.

The total purchase price will be $1,041.25 for each $1,000 principal amount of notes tendered by the early tender deadline of 5 p.m. ET on July 19. The total amount includes an early tender premium of $30.00 per $1,000 principal amount.

Holders who tender after the early deadline will receive the base tender payment of $1,011.25 per $1,000 of notes.

The company also will pay accrued interest to but excluding the settlement date.

The offer is contingent upon the closing of a concurrent offering; however, the concurrent offering is not conditioned on completion of the offer. The offer does not require any minimum principal amount of notes being tendered.

Tendered notes may be withdrawn before the early tender deadline.

Citigroup Global Markets and Deutsche Bank Securities are the dealer managers.

Petrobras Argentina SA, formerly Petrobras Energia SA, is a Buenos Aires-based energy company.

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