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Orazul Energy extends early tender premium through expiration date
By Mary-Katherine Stinson
Lexington, Ky., Nov. 15 – Orazul Energy Peru SA has announced an extension of the early payment premium through the expiration date on its tender offer for up to $41.8 million of its 5 5/8% senior notes due 2027 (Cusips: 68559BAA5, P7372BAA1), according to a press release.
The early tender date expired at 5 p.m. ET on Nov. 12.
The offer is scheduled to expire at 11:59 p.m. ET on Nov. 29, also the withdrawal deadline.
Noteholders who validly tender their notes and do not withdraw them by the final expiration date will receive the total consideration of $1,007.50, inclusive of the $50 early tender payment. Accrued interest will also be paid, calculated to the settlement date.
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.
There are currently $404,686,000 of the notes outstanding.
The company conducted a first tender offer on the series 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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