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Anton Oilfield to exchange $61.46 million of old notes as offer ends
Chicago, July 19 – China’s Anton Oilfield Services Group announced that it will exchange $61,463,000 of its existing notes for new notes, or 21.2% of the amount outstanding, at the conclusion of its exchange offer, which expired on Friday, according to an announcement.
The company expects to issue $61,903,000 of new notes for the old notes.
The offer expired at 11 a.m. ET on July 16.
Final pricing details and the amount of new notes of the concurrent new money issuance will be announced in due course.
The issuer had announced previously that the minimum yield on the new notes will be 8¾%.
At the beginning of the offer, there were $150 million of the old notes outstanding (ISIN: XS2082380515).
Settlement is planned for July 26, as previously reported.
The new notes will be listed on July 27.
Nomura International plc and Admiralty Harbour Capital Ltd. are the dealer managers for the offer.
D.F. King is the information and exchange agent.
Anton Oilfield is a Beijing-based provider of technical oil and gas field development services.
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