MIDLAND, Texas, Nov. 28, 2017 /PRNewswire/ — Endeavor Energy Resources, LP (“Endeavor” or the “Company”) today announced that it has commenced cash tender offers (the “Tender Offers”) to purchase any and all of the outstanding $500,000,000 aggregate principal amount of the 7.00% senior notes due 2021 (CUSIP Nos. 29260FAA8, U29172AA8 and U29172AB6) (the “2021 Notes”) and outstanding $300,000,000 aggregate principal amount of the 8.125% senior notes due 2023 (CUSIP Nos. 29260FAC4 and U29172AC4) (the “2023 Notes” and together with the 2021 Notes, the “Notes”) issued by Endeavor and EER Finance, Inc., co-issuer of the Notes. The Tender Offers are being made on the terms and subject to the conditions set forth in the Offer to Purchase dated November 28, 2017 (the “Offer to Purchase”).
The Tender Offers are scheduled to expire at 5:00 p.m., New York City time, on December 4, 2017, unless extended or earlier terminated as described in the Offer to Purchase (such time and date, as they may be extended or earlier terminated, the “Expiration Time”). Tenders of the Notes must be properly made before the Expiration Time and may be withdrawn at any time before the Expiration Time. Holders of the Notes who validly tender (and do not validly withdraw) their Notes at or prior to the Expiration Time, or who deliver to the information and tender agent a properly completed and duly executed Notice of Guaranteed Delivery in accordance with the instructions described in the Offer to Purchase, will receive in cash $1,038.80 per $1,000 principal amount of 2021 Notes validly tendered and accepted by the Company and $1,076.50 per $1,000 principal amount of 2023 Notes validly tendered and accepted by the Company, plus accrued and unpaid interest to, but not including, the settlement date, which is expected to be December 7, 2017.
Tendered Notes may be withdrawn at any time prior to the Expiration Time. The Tender Offers are subject to the satisfaction or waiver of a number of conditions as set forth in the Offer to Purchase, including the receipt by the Company of proceeds from a proposed debt financing on terms reasonably satisfactory to the Company. The Company may amend, extend or terminate the Tender Offers in its sole discretion and subject to applicable law.
Goldman Sachs & Co. LLC and MUFG Securities Americas Inc. are acting as joint dealer managers for the Tender Offers. The information agent and tender