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Petrominerales extends change-of-control offer for convertible bonds
By Angela McDaniels
Tacoma, Wash., Dec. 31 - Petrominerales Bermuda Ltd. extended the change-of-control offer for its 2.625% senior convertible bonds due 2016 and 3.25% senior convertible bonds due 2017 to 10:30 a.m. ET on Jan. 31 from Dec. 29, according to company notices.
The company is offering par plus accrued interest.
Alternatively, holders can convert their bonds at the change-of-control conversion price, which is $25.79 for the 2.625% convertibles and $11.33 for the 3.25% convertibles.
A change-of-control event occurred on Nov. 28 when Pacific Rubiales Energy Corp. acquired Petrominerales Ltd. The change-of-control offer began Dec. 2.
Pacific Rubiales stock closed at $17.26 (OTCBB: PEGFF) on Dec. 31.
Questions can be directed to Pacific Rubiales at 416 362-7735, extension 222.
Petrominerales and Pacific Rubiales are oil and gas companies based in Bogota, Colombia, and Toronto, respectively.
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