Apr 2019 Financial News

Trinidad Petroleum Holdings Limited (TPHL) today announces Extension of Early tender deadline

Apr 29, 2019

Trinidad Petroleum Holdings Limited ("TPHL") today announced that the early tender deadline has been extended until 5:00 p.m., New York City time, on May 3, 2019 (the "Extended Early Tender Deadline"), with respect to its previously announced separate private offers to exchange any and all of its outstanding notes, originally issued by Petroleum Company of Trinidad and Tobago Limited ("Petrotrin"), for a combination of newly issued debt securities of TPHL and cash (the "Exchange Offers"), upon the terms and subject to the conditions described in the Offering Memorandum, dated April 15, 2019 (as may be amended or supplemented from time to time, the "Offering Memorandum"), and the related letter of transmittal (as may be amended or supplemented from time to time, the "Letter of Transmittal"), and to its solicitation of consents to certain proposed amendments to the existing indentures (the "Consent Solicitations").


 On the terms and subject to the conditions set forth in the Offering Memorandum and TPHL's press release, dated April 15, 2019, Eligible Holders who validly tender Existing Notes at or prior to the Extended Early Tender Deadline will receive, for each $1,000 principal amount of Existing Notes accepted for exchange, a combination of a principal amount of New Notes and cash in an amount equal to the Total Consideration (as defined in the Offering Memorandum).  All other terms and conditions of the Exchange Offers remain the same.

 

Source:
PRNewswire
Monday 29 April, 2019