TPHL Announces Extension Of Expiration Date

(TPHL, 20.Jun.2019) — Trinidad Petroleum Holdings Limited (TPHL) announced that the expiration date has been extended until 5:00 p.m., New York City time, on June 21, 2019, unless extended or earlier terminated (such time and date with respect to the Exchange Offers, as the same may be extended, the “Extended Expiration Date”), with respect to its previously announced offers to exchange any and all of its outstanding notes, originally issued by Petroleum Company of Trinidad and Tobago Limited (“Petrotrin”), for newly issued debt securities of TPHL (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”).  All other terms and conditions of the Exchange Offers remain the same.

As of 5:00 p.m., New York City time, on June 19, 2019, TPHL had received the valid tender, without subsequent withdrawal, of approximately U.S.$528.1 million aggregate principal amount of Existing Notes in the Exchange Offers. The breakdown of the principal amount of validly tendered 2019 Notes and 2022 Notes is as set forth in the table below.

Because the principal amount of New Notes to be issued will exceed U.S.$500 million, Holders of Existing Notes who tendered their notes on or after June 5, 2019 will not have the right to withdraw from the Exchange Offers pursuant to the press release dated June 5, 2019, announcing new terms to the Exchange Offers. Holders of Existing Notes who tendered prior to June 5, 2019 will also not have withdrawal rights.


Please follow and like us:
Follow by Email
Visit Us

Leave a Reply

Your email address will not be published. Required fields are marked *