Peru’s Orazul Energy starts capped tender offer for 5 5/8% notes

Chicago, Oct. 29 – Orazul Energy Peru SA started a new tender offer for its 5 5/8% senior notes due 2027 (Cusips: 68559BAA5, P7372BAA1), according to a press release.

The company is offering to buy up to $41.8 million of the notes, as an aggregate purchase price. The aggregate purchase price does not include interest.

Noteholders are being offered a total consideration of $1,007.50, inclusive of a $50 early tender payment. Accrued interest will also be paid, calculated to the settlement date.

The early tender payment will only be paid to holders who tender their notes by 5 p.m. ET on Nov. 12.

There are currently $404,686,000 of the notes outstanding.

The offer is scheduled to expire at 11:59 p.m. ET on Nov. 29, also the withdrawal deadline.

Settlement is planned for Dec. 1.

Tenders may be subject to proration.

The company is conducting the tender offer because of an asset sale, and the indenture governing the notes. Orazul sold its indirect ownership in the thermal power generation and hydrocarbon business, Termoselva SRL and Aguaytia Energy del Peru SFL to a special purpose vehicle of Nautilus Energy Partners LLC in October.

The company conducted a first tender offer as a modified Dutch auction tender offer earlier in the year.

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. (800 370-1749, 212 269-5550, orazul@dfking.com) 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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