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Article: CITGO Petroleum Corporation Cash Tender Offer for 11 3/8% Senior Notes.
- Article from:
- PR Newswire
- Article date:
- October 8, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TULSA, Okla., Oct. 8 /PRNewswire/ -- CITGO Petroleum Corporation today announced that it has commenced a cash tender offer (the "Offer") for any and all of its outstanding $550,000,000 11 3/8% senior notes due 2011 and a solicitation of consents (the "Consent Solicitation") to eliminate certain restrictive covenants from the indenture governing the 11 3/8% notes. The Offer and Consent Solicitation are being made pursuant to an Offer to Purchase and Consent Solicitation Statement, dated October 8, 2004.
The total consideration will be determined by pricing the 11 3/8% notes using standard market practice to the First Call date at a fixed spread of 85 basis ...