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Medco Energi Announces Tender Offer Results
June 4, 2024
Medco Energi announces the results of the tender offer to purchase up to $150mn of two of its dollar bonds. It offered to purchase in cash, $140.809mn of its 7.375% 2026s that were tendered ahead of the early tender deadline on May 15. The offer to purchase its 6.375% 2027s stood cancelled as the overall tender offer was oversubscribed. Holders of the 2026s are eligible to receive $1,008 for each $1,000 in principal amount, including an early tender premium of $30 for each $1,000 in principal amount. In addition to it, all holders of the early 2026s accepted for purchase will also receive accrued interest.
Its 7.375% 2026s are trading at 100.78, yielding 5%.
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