#Peru #Lima #Senior Notes #Tender Offer #Hunt Oil Company

Hunt Oil Company of Peru Extends Tender Offer Deadlines

In a significant announcement on April 22, 2025, Hunt Oil Company of Peru L.L.C. (HOCP) stated that it has extended the deadline for its cash tender offers for outstanding senior notes which include the 6.375% Trust Enhanced Senior Notes set to mature in 2028 and the 8.550% Trust Enhanced Senior Notes due in 2033. The new expiration time is set for 8:00 AM New York City time on April 29, 2025, which allows bondholders additional time to consider their options. This extension reflects HOCP’s ongoing commitment to ensure a comprehensive evaluation process for potential offer participants.

Details of the Tender Offers

The company had initially announced these offers in the context of its financial strategy. According to the statement, the 2028 Notes and 2033 Notes involved are identified by specific CUSIP numbers and are aimed at providing investors with liquidity. To comply with the terms, noteholders wishing to participate must tender their notes before the newly established expiration time. As a significant aspect of the tender process, holders should note that any tender must not be withdrawn before the prescribed withdrawal date, set also for April 29, 2025, at 8:00 AM.

The urgency of these tender offers is underscored by the specific participation already noted. As of April 21, 2025, information from Global Bondholder Services Corporation indicates that approximately 66.57% of the 2028 Notes and 65.53% of the 2033 Notes have been tendered, affirming robust interest in HOCP’s offers.

Financial Implications and Considerations

For those participating in the offers, compensation for their tendered notes will occur on the settlement date, which is scheduled for May 5, 2025. The inclusion of accrued and unpaid interest from the last payment date represents an attractive incentive for investors. The details of these financial terms are outlined in the Offer to Purchase, which outlines the complete structure and conditions associated with the tender offers.

Furthermore, the pricing for the Bonds varies, with the 2028 Notes offering a consideration of $1,025 per $1,000 of original principal, while the 2033 Notes are issued at a consideration of $1,132.50. These levels suggest a premium for early cash redemption that may appeal to certain investors, particularly in light of current market conditions that could favor liquidity.

About Hunt Oil Company

HOCP operates as a subsidiary under the larger Camisea Consortium, which is a prominent entity in Peru’s natural gas sector. Its operational base spans across several key energy blocks, including Block 88 and Block 56 in the Ucayali Basin. The importance of these blocks cannot be understated as they account for a significant portion of Peru's natural gas production capabilities. The company's strategic interest in managing and optimizing its capital structure through such tender offers exemplifies its proactive approach in a competitive market.

As the deadline approaches, investors must weigh their options carefully and stay updated on all related communications from HOCP, including possible further modifications to the tender process. This extended timeline presents a chance for noteholders to make informed decisions crucial to their investment strategies. Active engagement with the bond’s dealer managers—including major financial institutions like BofA Securities and Citigroup—could provide additional insights during this period, assisting investors in navigating their potential involvement with HOCP’s offers.