SGX - Singapore Exchange Limited

01/24/2020 | Press release | Distributed by Public on 01/23/2020 22:59

General Announcement::PTT Exploration and Production PCL - Optional Redemption Announcement

Reference is made to the Indenture, dated April 5, 2011 (as amended and supplemented, the 'Indenture'), among the Issuer, the Guarantor and The Bank of New York Mellon as the trustee (the 'Trustee'). Capitalized terms used herein and not otherwise defined shall have the same meanings ascribed thereto in the Indenture.

The Company hereby announces on January 23, 2020, the Issuer has delivered notice to holders that pursuant to Section 10.1 of the Indenture, the Issuer has elected to affect an optional redemption under Section 10.1 of the Indenture in the manner more fully described below.

The Issuer has designated February 25, 2020 as the redemption date (the 'Redemption Date') for the optional redemption. The entire outstanding principal amount of the Notes is currently U.S.$480,000,000 and on the Redemption Date, the Issuer shall redeem all of the outstanding Notes, at a redemption amount (the 'Redemption Amount') equal to 100% of the principal amount of the Notes redeemed, plus the Applicable Premium (as defined under Section 1.1 of the Indenture) as of, and accrued and unpaid interest and Additional Amounts (as defined under Section 3.5 of the Indenture), if any, to the Redemption Date. In accordance with the terms and conditions of the Indenture, the Applicable Premium will be determined based on a Treasury Rate compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to the Redemption Date. The Issuer intends to determine the Treasury Rate on February 20, 2020, and to announce the Redemption Amount as soon as reasonably practicable thereafter.

On the Redemption Date, the Redemption Amount will become due and payable in respect of the Notes.
Payment of the Redemption Amount of the Notes will be made through The Depository Trust Company, in accordance with the provisions of the Notes.