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Ocensa begins tender offer for up to $100 million 4% notes due 2027
By Marisa Wong
Los Angeles, April 24 – Colombia’s Oleoducto Central SA (Ocensa) announced it has begun a cash tender offer to purchase up to $100 million aggregate principal amount of its $500 million outstanding 4% notes due 2027 (Cusip: 680617AC1, P7358RAD8).
Holders who tender their notes by 5 p.m. ET on May 5, the early tender date, will be eligible to receive the total consideration of $892.50 per $1,000 principal amount, which includes an early tender payment of $30 per $1,000 principal amount.
Holders tendering after the early tender date will only be eligible to receive the tender consideration of $862.50 per $1,000 of notes.
The company will also pay accrued interest.
Tenders may be subject to proration.
All notes tendered by the early tender date will have priority in acceptance over notes tendered after the early deadline.
Tenders may not be withdrawn after 5 p.m. ET on May 5.
Early settlement is expected to be on May 10.
The offer will expire at 11:59 p.m. ET on May 19.
Final settlement is expected to occur on May 24.
BofA Securities, Inc. (646 855-8988 or 888 292-0070) is the dealer manager for the offer.
Global Bondholder Services Corp. (https://www.gbsc-usa.com/ocensa; 855 654-2014 or 212 430-3774 for banks and brokers) is the tender agent and information agent.
The company said it reserves the right, at its discretion, from time to time to purchase any notes that remain outstanding after the expiration of the tender offer through open-market or privately negotiated transactions, one or more additional tender or exchange offers or otherwise or to exercise any of its redemption rights under the notes.
Ocensa is a Bogota, Colombia-based crude oil transportation company. Ecopetrol SA owns indirectly, through its wholly owned subsidiary Cenit Transporte y Logistica de Hidrocarburos SAS, 72.65% of Ocensa.
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