Empresa Nacional del Petróleo - Tender & Cosent Offer - Launch

Empresa Nacional del Petróleo Announces the Commencement of a Tender Offer and Consent Solicitation for any and all of its 4.375% Notes Due 2024

26 APRIL 2023

Full announcement including disclaimers and offer restrictions available via luxse

"SANTIAGO, CHILE — Empresa Nacional del Petróleo (“ENAP”, the “Company” or “we”) announced today that it has commenced a cash tender offer (the “Offer”), on the terms and subject to the conditions set forth in the Company’s Offer to Purchase and Consent Solicitation Statement dated April 26, 2023 (the “Statement”), for any and all of its outstanding 4.375% Notes due 2024 (the “Notes”). Capitalized terms used herein and not defined herein have the meaning given to them in the Statement.

The Company is also soliciting consents (the “Solicitation”) to certain proposed amendments to the indenture governing the Notes to, among other things, eliminate substantially all of the restrictive covenants and certain events of default, as well as to shorten the minimum notice period required for optional redemptions of the Notes to three calendar days on the terms and subject to the conditions set forth in the Statement.

The Statement more fully sets forth the terms of the Offer and Solicitation.

The Notes and other information relating to the Offer and Solicitation are listed in the table below:"