PETRÓLEOS DEL PERÚ – PETROPERÚ SA Announces Satisfaction of the CESCE Amendment Condition of its Consent Solicitation

LimaPeru, May 30, 2022 /PRNewswire/ — Petróleos del Perú – Petroperú SA (the “Company“) today announced satisfaction of the CESCE amendment condition related to its previously announced consent solicitation (the “Consent Solicitation“), being conducted on the terms and subject to the conditions set forth in the Consent Solicitation Statement dated May 23, 2022 (there “Consent Solicitation Statement“).

Pursuant to the Consent Solicitation Statement, the Company is soliciting consents (“Consents“) of the Holders of its (i) 4.750% Notes due 2032 (the “Tickets 2032“) and (ii) 5.625% Notes due 2047 (the “2047 Tickets” and, collectively with the 2032 Notes, the “Remarks“and each one”Series“) to certain proposed amendments (the “Proposed Changes“) to the instruments governing the Notes.

The Company had sent an amendment request to the lenders under this facility agreement between the Company, as borrower, certain lenders, and Deutsche Bank, SAE, as administrative agent, guaranteed by Compañía Española de Seguros de Crédito a la Exportación, SA, Compañía de Seguros y Reaseguros, PME, the Spanish Export Credit Agency CESCE (this Guaranteed Facility Agreement, the “CESCE Facility Agreement“), to extend the deadline within which the Company must submit the audited consolidated financial statements for the 2021 financial year under the CESCE Facility Agreement to September 30, 2022.

From May 30, 2022, the majority of the lenders under the CESCE Facility Agreement, representing the required lenders thereunder, agreed to the Company’s request and, accordingly, the CESCE Facility Agreement has been effectively amended as requested by the Society. The effective modification of the CESCE Facility Agreement was one of the conditions of the Consent Solicitation, as set forth in the Consent Solicitation Statement (the “Condition of amendment CESCE“).

The Company has the right, in its sole discretion, to modify or terminate the Consent Solicitation at any time.

Citigroup Global Markets Inc., HSBC Securities (UNITED STATES) Inc., and Santander Investment Securities Inc. are acting as solicitation agents for the consent solicitation. Tabulating and Information Agent is Global Bondholder Services Corporation.

Requests for documentation should be directed to Global Bondholder Services Corporation at (855) 654-2014. Questions regarding the Consent Solicitation should be directed to the Solicitation Agents at 212 723 6106 (for Citigroup), +1 (888) HSBC-4LM (for HSBC) or +1 (212) 940-1442 (for Santander).

This press release does not constitute an offer to buy or a solicitation of an offer to sell any securities.

Neither the Company, nor the Solicitation Agents, nor the Tabulation and Information Agent makes any recommendation as to whether holders should consent or refrain from consenting to the proposed amendment. Holders must make their own decision as to whether or not to issue their Consents.

About Petroperu:

Petróleos del Perú – Petroperú SA established in 1981 as a public limited company pursuant to Legislative Decree No. 43 (founded in 1969), Petroperú is the largest commercial hydrocarbon entity in Peru in terms of total sales and the largest company of the Peruvian sovereign (100% owned by Peru). It is also from Peru second-largest refiner by refining capacity and is an essential part of the country’s energy infrastructure and economy. It has the largest distribution network for crude oil and refined products in the country, and it is the only supplier of refined products in certain regions of the Peru. He is also the owner and operator of from Peru main oil pipeline, the “Norperuano Pipeline”, which connects crude oil production fields in the rainforest of northern Peru with its facilities in the port of Bayovar near its Talara refinery. Its business primarily includes midstream and downstream petroleum activities, including the refining and blending of crude and midstream hydrocarbon products, the distribution and sale of refined products through its wholesaler-distributors and service stations. associated retail and direct sales, the transportation of crude oil through the Norperuano Pipeline, and the leasing of some of its facilities to third parties. Petroperú is also present in the upstream sector.

Notice :

Caution Regarding Forward-Looking Statements

This press release and consent solicitation statement contain statements that are or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. . Actual results may differ materially from those described in the forward-looking statements included in this consent solicitation statement. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company disclaims any obligation or undertaking to publicly update or revise any forward-looking statements contained in this press release or consent solicitation statement, whether as a result of new information, future events or otherwise. Future events or circumstances could cause actual results to differ materially from historical or anticipated results.

SOURCE Petroleos del Perú – Petroperú SA

About Michael Murphy

Check Also

Delaware Statutory Trusts – Trusts

Business trusts have been recognized by the common law of Delaware since 1947, however, there …