Results of the repurchase of notes and the issuance, offering and sales of the newly issued notes as part of a liability management exercise on the US$ denominated notes issued, offered and sold entirely to offshore investors of the PTT Exploration and Production Public Company Limited group
15 January 2020
Investor Relations Tel. +66(0) 2537 4868, +66(0) 2537 5843
15 January 2020
Reference is made to (1) an offer by PTTEP Canada International Finance Limited (“PTTEP CIF”), a Canadian incorporated subsidiary of PTT Exploration and Production Public Company Limited (“PTTEP”), to repurchase US$ denominated notes issued, offered and sold by PTTEP CIF entirely to offshore investors in an aggregate principal amount of US$ 700,000,000 with an annual coupon 5.692 of percent, and maturing in 2021 (the “Existing Notes”), and to (2) PTTEP group’s plan to issue, offer and sell new US$ denominated notes entirely to offshore investors per the details in the referenced document.
PTTEP would like to inform you that the PTTEP group has completed the repurchase of the Existing Notes in the amount of US$ 220,000,000 (equivalent to 31.43 percent of the total aggregate principal amount of the Existing Notes) on 15 January 2020, resulting in a remaining outstanding aggregate principal amount of US$ 480,000,000 of the Existing Notes. In this regard, PTTEP CIF plans to exercise its Optional Redemption rights for the remainder of the Existing Notes.
Furthermore, on 15 January 2020, PTTEP Treasury Center Company Limited (“PTTEP Treasury Center”) also issued, offered and sold the 10-year senior notes in an aggregate principal amount of US$ 350,000,000 with a fixed interest rate of 2.993 percent per annum, maturing on 15 January 2030 (“New Notes”). The New Notes were issued under US$ 3,000,000,000 Global Medium Term Note Program. The net proceeds from the issuance of the New Notes will be used by PTTEP Treasury Center to lend-on to entities within PTTEP group for general corporate purposes.