December 7, 2011
Pacific Rubiales has launched an offer to exchange any and all of its outst
Pacific Rubiales has launched an offer to exchange any and all of its outstanding 8.75% 2016 bonds for new 7.25% 2021s. Holders will receive $1,150 cash per $1,000 principal if they accept by the December 16 earlybird date, and $1,120 thereafter. The new notes are the same as those issued Monday through the sale of $300m in 10-year NC5s that were priced at par to yield 7.25%. Bank of America Merrill Lynch managed the new issue and is also managing the exchange offer.