Thailand’s PTT Exploration plans to sell 10-year notes in January

By Rebecca Melvin

New York, Dec. 11 – PTT Exploration and Production PCL, through its subsidiary PTTEP Treasury Center Co. Ltd., plans to sell new U.S. dollar denominated 10-year notes, subject to market conditions, in January, according to a news release.

The new Rule 144A and Regulation S notes are being offered under a Nov. 15 circular relating to a $3 billion global medium-term note program.

Proceeds will be used to help fund a tender offer by PTT Exploration and Production for up to $220 million of its $700 million issue of 5.692% senior notes due 2021.

PTTEP Canada International Finance Ltd. is the issuer of the existing notes, PTT Exploration and Production is guarantor, and Citigroup Global Markets Inc. is the offeror of the tender.

The petroleum exploration and production company is based in Bangkok.

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