Peru’s Orazul Energy begins Dutch auction for 5 5/8% notes due 2027

Chicago, June 28 – Orazul Energy Peru SA started a modified Dutch auction tender offer for up to $150.4 million of its $550 million outstanding 5 5/8% senior notes due 2027 (Cusips: 68559BAA5, P7372BAA1), according to a press release.

The acceptable bid price range will be between $1,000 and $1,020 per $1,000 note, inclusive of an early tender premium of $50 per note for noteholders who tender by the early deadline.

The aggregate purchase price does not include interest.

Tendering noteholders should specify a bid price in the acceptable bid range. Noteholders who do not submit a bid price will be deemed to have specified $1,000 per note.

The clearing price that will be paid will be determined on the expiration date by determining the lowest bid price that will result in an aggregate purchase price equal to the maximum tender amount.

Tenders may be subject to proration.

The early tender deadline is 5 p.m. ET on July 9.

The offer expires at 11:59 p.m. ET on July 26. The expiration time is the withdrawal deadline.

Settlement is expected for July 27.

Credit Suisse Securities (USA) LLC (800 820-1653, 212 538-2147) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442) are dealer managers for the tender offer.

D.F. King & Co., Inc. (866 370-1749, 212 269-5550) is the information and tender agent for the offer.

Formerly Orazul Energy Egenor S. en C. por A, Orazul Energy is a Peru-based power generation and distribution company.

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