Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for PTT Exploration & Production PCL > News item |
Thailand’s PTT E&P accepts $176.55 million 3.707% notes in tender offer
By Angela McDaniels
Tacoma, Wash., June 22 – PTT Exploration & Production PCL accepted for purchase $176.55 million principal amount, or 35.31%, of its $500 million outstanding 3.707% notes due 2018, according to a company news release.
A tender offer for the notes began on June 8 and ended at 5 p.m. ET on June 17.
The purchase price is $1,041.50 for each $1,000 principal amount of notes plus accrued interest up to but excluding the settlement date, June 22.
Notes purchased in the offer will be retired and canceled. The principal amount of notes that remains outstanding following the offer is $323.45 million.
The offer was 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.
Citigroup Global Markets Inc. (800 558-3745, 212 723-6106, +44 20 7986 8972 or +852 2501 2552) was the dealer manager. D.F. King (+44 0 20 7920 9700, 800 581-4729, 212 269-5550, +852 3953 7230 or pttep@dfkingltd.com) was 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.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.