Hunt Oil Company of Peru Extends Tender Offer Deadlines for Its Senior Notes

Hunt Oil Company of Peru Extends Tender Offer Deadlines

In a recent announcement, Hunt Oil Company of Peru L.L.C. (HOCP) declared an extension for the expiration of its tender offers concerning its outstanding senior notes. The tender offers pertain to two series of notes: the 6.375% Trust Enhanced Senior Notes due 2028 and the 8.550% Trust Enhanced Senior Notes due 2033. Originally set to end soon, the Offers will now close at 8:00 AM New York City time on April 9, 2025, allowing additional time for note holders to take action.

Details of the Tender Offers

The tender offers were initially presented through the Offer to Purchase document dated March 31, 2025. The announcement clarifies that all other terms and conditions associated with the offers will remain unchanged. Investors looking to receive consideration must tender their notes by the newly established expiration time. Noteholders also have the option to withdraw their tender up until the withdrawal date, which remains set for 8:00 AM on the same date as the new expiration.

Breakdown of Notes and Current Status

As of April 7, 2025, approximately 52.72% of the 2028 notes and 63.99% of the 2033 notes have been tendered, as reported by Global Bondholders Services Corporation. This indicates a significant interest from investors looking to partake in the tender offers.

For investors, the consideration for each series of notes is established with specific quantitative terms:

- 6.375% Trust Enhanced Senior Notes due 2028

CUSIP No.: 144A 445640 AB1
Total Principal Amount: U.S.$261,492,000
Total Amount Tendered: U.S.$137,861,000
Consideration: U.S.$1,025.00 per U.S.$1,000
Scaling Factor: 70.60%

- 8.550% Trust Enhanced Senior Notes due 2033

CUSIP No.: 144A 445640 AC9
Total Principal Amount: U.S.$500,000,000
Total Amount Tendered: U.S.$319,966,000
Consideration: U.S.$1,132.50 per U.S.$1,000

Next Steps and Further Information

Notably, any notes that are validly tendered and accepted will be purchased on the settlement date set for April 15, 2025. This date will also account for accrued interest from the last payment date up to the settlement.

For those interested in the finer details of these offers, copies of the Offer Documents are readily accessible online and through contacting Global Bondholder Services Corporation. Any questions about the offers can be directed to the designated contact points provided in the HOCP announcement.

Hunt Oil Company's active management and detailed proposals indicate a strategic approach to maximize value for their bondholders while ensuring liquidity in the market for their securities. Although this extension offers more breathing room for investors, it also highlights HOCP's commitment to maintaining transparency and effectiveness in their financing strategies.

Conclusion

The extension of the tender offer deadlines provides a significant opportunity for noteholders to engage with HOCP's offerings. The structured timeline and the conditions laid out ensure clarity for investors, setting a positive tone amid the dynamic market environment of energy sectors such as oil and gas. Investors are encouraged to utilize this time effectively to assess their positions and make informed decisions regarding their assets.