Pacific Rubiales offers to purchase Petrominerales' convertibles

By Angela McDaniels

Tacoma, Wash., Dec. 2 - Pacific Rubiales Energy Corp. has sent change-of-control offers to holders of Petrominerales Ltd.'s 2.625% convertible debentures due 2016 and 3.25% convertibles due 2017, according to a company news release.

Pacific Rubiales acquired Petrominerales on Nov. 28, which was a change-of-control event under the convertibles' loan agreements.

The change-of-control offers will remain open until Dec. 29, with the possibility of an extension.

Petrominerales and Pacific Rubiales are oil and gas companies based in Bogota, Colombia, and Toronto, respectively.

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