Thailand’s PTT E&P tenders for $500 million of 3.707% notes due 2018

By Susanna Moon

Chicago, June 8 – PTT Exploration and Production PCL said it began a cash tender offer for its $500 million of outstanding 3.707% notes due 2018.

The purchase price will be $1,041.50 for each $1,000 principal amount plus accrued interest to but excluding the settlement date.

The tender offer will end at 5 p.m. ET on June 17.

Tendered notes may be withdrawn by the end of the offer.

The offer will be funded with existing cash resources and is being made to prepay the notes as part of the company’s strategy to manage its liquidity and liability profile, according to a company announcement.

Citigroup Global Markets Inc. (800 558-3745, 212 723-6106, +44 20 7986 8972, +852 2501 2552) is the dealer manager. D.F. King (+44 0 20 7920 9700, 800 581-4729, 212 269-5550, +852 3953 7230 or pttep@dfkingltd.com) is the information agent and tender agent.

PTT E&P is a Bangkok-based energy and exploration company that is 65% owned by the government of Thailand.

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