Pan American Energy Argentine branch to redeem $91 million of 7 7/8% notes due 2021

By Rebecca Melvin

Concord, N.H., April 23 – Pan American Energy Group SL, Argentine Branch announced results of its April 12 tender offer for any and all of its $166,479,000 outstanding 7 7/8% notes due 2021 (Cusips: 69783TAA2, 69783UAA9), according to a company release.

As of the offer’s expiration at 5 p.m. ET on April 22, $90,874,035 aggregate principal amount, or 54.6%, of the notes, was validly tendered and not validly withdrawn.

The branch will accept all of the notes that were validly tendered and make payment on April 27, unless extended at the branch’s discretion. The price is $1,000 per $1,000 of notes tendered, plus interest.

Dealer managers for the offer were Citigroup Global Markets Inc. (800 558-3745, 212 723-6106), HSBC Securities (USA) Inc. (888 HSBC-4LM, 212 525-5552), Itau BBA USA Securities Inc. (888 770 4828, 212 710-6749), J.P. Morgan Securities LLC (866 846-2874, 212 834-7279) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442).

Dealer managers in Argentina were Banco Itau Argentina SA, HSBC Bank Argentina SA, Itau Valores SA and Banco Santander Rio SA.

D.F. King & Co., Inc. was the information and tender agent (888 887-0082, 212 269-5550, pae@dfking.com).

Pan American Energy is an oil and gas exploration and production company based in Buenos Aires.

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