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Prospect News home > News index > List of issuers O > Headlines for Oil & Gas Holding Co. BSC > News item
Published on 5/15/2023 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Bahrain’s Oil & Gas launches tender offer for 7 5/8% notes due 2024

By Marisa Wong

Los Angeles, May 15 – Oil & Gas Holding Co. BSC (Nogaholding) is inviting holders of its outstanding $750 million 7 5/8% notes due Nov. 7, 2024 (ISIN: XS1901860160, US67778M2C35) to tender any and all of their notes for purchase for cash.

The issuer is offering a purchase price of $1,025 per $1,000 principal amount, plus accrued interest.

The offer expires at 5 p.m. ET on May 22. Settlement is expected on May 25.

The guaranteed delivery deadline is 5 p.m. ET on May 24. Settlement for tenders under guaranteed delivery procedures is slated for May 30.

Notes will be accepted with no pro rata scaling.

The tender offer is conditioned on the issuance of new certificates.

Holders who participate in the tender offer may be given priority in allocation of the new certificates.

Arab Banking Corp. (BSC) (DCM@Bank-ABC.com), Citigroup Global Markets Ltd. (+44 20 7986 8969, 800 558-3745, 212 723-6106; liabilitymanagement.europe@citi.com), First Abu Dhabi Bank PJSC (LiabilityManagement@bankfab.com; +971 4 565 9956), HSBC Bank plc (+44 20 7992 6237; lm_emea@hsbc.com), J.P. Morgan Securities plc (Em_europe_lm@jpmorgan.com) and National Bank of Bahrain BSC (dcm-syndications@nbbonline.com) are acting as the dealer managers for the tender offer.

Lazard Freres is acting as financial adviser.

Morrow Sodali Ltd. (nogaholding@investor.morrowsodali.com; https://projects.morrowsodali.com/nogaholding; +44 20 4513 6933; 203 609-4910; +852 2319 4130) is the information and tender agent.

Nogaholding is the state-owned strategic investment and development arm of Bahrain’s oil and gas authority.


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