The Company has extended the Early Tender Deadline to 5:00 P.M. New York City time on October 12, 2016, unless extended or earlier terminated by PDVSA at its sole and absolute discretion. The Early Tender Deadline was previously scheduled to expire at 5:00 P.M. New York City time on October 6, 2016 (the "Prior Early Tender Deadline"). The Withdrawal Deadline expired as of the Prior Early Tender Deadline, and there will be no withdrawal rights for the remainder of the Exchange Offers. All other terms and conditions to the Exchange Offers remain the same.
The consummation of the Exchange Offers is conditioned upon, among other things, the valid tender of at least 50% of the aggregate principal amount of the Existing Notes. As of the Prior Early Tender Deadline, substantially less than 50% of the aggregate principal amount of the Existing Notes have been tendered.
The Exchange Offers are being made pursuant to the Offering Circular dated September 16, 2016, as supplemented by the Supplement dated September 26, 2016 (the "Offering Circular"), which sets forth more fully the terms and conditions of the Exchange Offers.
Capitalized terms not defined herein have their meaning set out in the Offering Circular. This press release is neither an offer to purchase nor a solicitation to buy any securities, nor is it a solicitation for acceptance of the Exchange Offers. The Company is making the Exchange Offers only by, and pursuant to the terms of, the Offering Circular to holders of the Existing Notes. The Exchange Offers are not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. This press release is neither an offer to sell nor a solicitation of an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
D.F. King & Co., Inc. has been appointed as the information agent and the exchange agent for the Exchange Offers. Holders of the Existing Notes may obtain copies of the Offering Circular from D.F. King & Co., Inc. by accessing the website https://sites.dfkingltd.com/pdvsa. Holders of the Existing Notes may contact the information agent in New York: (800) 431-9646 (toll free) or (212) 269-5550 (banks and brokerage firms), in London: +44 20 7920-9700 or e-mail at firstname.lastname@example.org.
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SOURCE Petroleos de Venezuela, S.A.