Oasis tenders for $400 million of four notes, asks consents for three

By Susanna Moon

Chicago, April 30 – Oasis Petroleum Inc. said it is offering to pay up to $400 million in its tender offer for four series of its notes until 11:59 p.m. ET on May 26.

Oasis also is soliciting consents to amend provisions of the indentures of the first three series of notes to eliminate substantially all of the restrictive covenants and events of default and to modify the redemption notice requirements, according to a company announcement.

The total purchase price for each $1,000 principal amount of notes is as follows, with the notes listed in order of priority acceptance levels:

• $1,003.75 for the $54,275,000 of outstanding 7¼% senior notes due 2019;

• $1,025 for the $395,501,000 of outstanding 6½% senior notes due 2021;

• $1,034.38 for the $937.08 million of outstanding 6 7/8% senior notes due 2022; and

• $1,030.50 for the $366,094,000 of outstanding 6 7/8% senior notes due 2023, which do not have a related consent solicitation.

The total amount includes an early tender premium of $30.00 per $1,000 principal amount of notes tendered by the early tender deadline of 5 p.m. ET on May 11.

Tendered notes may be withdrawn before the early deadline.

Settlement will occur on May 14 for early tendered notes and on May 29 for any remaining tenders.

Wells Fargo Securities, LLC (866 309-6316) and Citigroup Global Markets Inc. (800 558-3745) are the lead dealer managers and the lead solicitation agents. Global Bondholder Services Corp. (866 470-3700 or contact@gbsc-usa.com) is the tender agent and information agent.

Oasis is a Houston-based oil and natural gas company.

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