Medco offers to buy two series of notes for up to $150 million

By Wendy Van Sickle

Columbus, Ohio, April 28 – Indonesia’s PT Medco Energi Internasional Tbk. said it is offering to purchase notes from two series for an aggregate purchase price of up to $150 million.

The notes include the $650 million of 7 3/8% senior notes due 2026 issued by Medco Oak Tree Pte. Ltd. (Cusips: 58405FAA3, Y59505AA7) and the $650 million of 6 3/8% senior notes due 2027 issued by Medco Bell Pte. Ltd. (Cusips: 58406LAA9, Y56607AA5).

The total consideration per $1,000 principal amount for notes tendered by the early deadline, 5 p.m. ET on May 11, will be $1,000 for the 2026 notes and $942.50 for the 2027 notes.

In each case, the consideration includes an early tender premium of $30 per $1,000 of notes that will not be paid to holders who tender after the early deadline.

Holders will also receive accrued interest.

The withdrawal deadline is also 5 p.m. ET on May 11.

The offer expires at 11:59 p.m. ET on May 25.

Settlement is expected on June 2.

The notes are guaranteed by parent company PT Medco Energi Internasional.

Morgan Stanley Asia (Singapore) Pte. (+852 6901 0116, +852 6323 8423, 212 761-9994, 212 761-3459, +65 6834 8068 or liabilitymanagement_gp@morganstanley.com) and Standard Chartered Bank (Singapore) Ltd. (+44 20 7885 5739, +852 3983 8658, +65 6557 8286, or liability_management@sc.com) are joint dealer managers for the tender offer.

Morrow Sodali Ltd. (+852 2319 4130, +44 20 4513 6933, 203 609-4910, medco@investor.morrowsodali.com) is the information and tender agent.

MedcoEnergi is an oil and gas company based in Jakarta, Indonesia.

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