#Peru #Lima #Tender Offers #Hunt Oil Company

Hunt Oil Company of Peru Extends Tender Offers Deadlines

In a significant update from the financial sector, Hunt Oil Company of Peru L.L.C. (HOCP) announced the extension of its tender offers concerning cash transactions aimed at its outstanding senior notes. The decision, made public on April 7, 2025, extends the period during which interested parties can respond to the offers, allowing investors additional time to make informed decisions regarding their investments.

Overview of the Tender Offers

The tender offers include two classes of securities: 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 for these offers has been established at 8:00 a.m. New York City time on April 8, 2025, which reflects an updated timeline initially outlined in the Offer to Purchase dated March 31, 2025.

HOCP's relaxation of deadlines is highlighted as part of their strategy to facilitate bond exchanges, with expectations that this move will lead to enhanced liquidity among investors holding these notes. According to HOCP, the fate of the offered securities remains tied to the willingness of holders to tender their notes by the specified deadlines.

Detailed Offer Components

Senior Notes Breakdown

• - 6.375% Trust Enhanced Senior Notes (Due 2028): These notes, identified by CUSIP No. 144A 445640-AB1 and ISIN US445640AB18, have an original principal amount of $261.49 million. As of April 4, 2025, approximately 51.17% of these notes had been tendered, highlighting significant investor participation.
• - 8.550% Trust Enhanced Senior Notes (Due 2033): With a total original principal amount of $500 million (CUSIP No. 144A 445640-AC9, ISIN US445640AC90), these notes have seen an even greater interest with about 63.51% already tendered, showing robust demand from bondholders.

For both classes of notes, investors must submit valid tenders prior to the expiration time to be eligible for the outlined considerations. The payment date for accepted tenders is scheduled for April 14, 2025, allowing a brief standard period for processing after the tender deadline.

Sale and Withdrawal Conditions

Bondholders are also afforded the flexibility to withdraw their tender at any point until the withdrawal date on April 8, 2025, at 8:00 a.m. New York City time. This provision is crucial as it empowers investors to adjust their strategies in response to ongoing market conditions or internal assessments of HOCP’s financial performance and future outlook.

Implications for Bondholders and Market

The extending of deadlines by HOCP is not merely a procedural change; it reflects the company’s understanding of the evolving landscape in financial markets and its commitment to fostering better relations with its investors. The company's prompt communication regarding the updates on tender offers signifies their adherence to transparent practices and regulatory compliance.

Advisory and Support for Investors

For those who seek more clarity or have questions regarding the tender offers, several financial institutions have been enlisted to support interested stakeholders. Notably, financial giants BofA Securities and Citigroup Global Markets are among the dealer managers ready to assist in facilitating inquiries and guiding investors through the tender process.

Conclusion

The proactive steps taken by Hunt Oil Company of Peru mark an important chapter in its financial management strategy and investment approach. As the extended deadlines approach, stakeholders are encouraged to review their positions carefully and consult with financial advisors to navigate their options effectively. The outcomes of these offers not only impact the current fiscal health of HOCP but also resonate with broader market responses within the energy sector and beyond.