China Oil And Gas Group Limited (Stock Code: 603) released an announcement regarding a proposed cash offer to purchase its outstanding 4.7% Senior Notes due 2026 (“the Notes”). The principal amount of the Notes currently outstanding is US$361 million, and the company intends to buy back an aggregate principal amount up to the lower of (i) US$361 million and (ii) the proceeds (the “New Issue Amount”) from a concurrent new issuance of senior notes.

According to the announcement, holders of the Notes (“Eligible Holders”) who wish to participate must submit valid tender instructions on or before 4:00 p.m. (London Time) on 3 February 2026 (the “Expiration Deadline”). The purchase price for the Notes is set at US$1,000 for every US$1,000 in principal amount, and successful tenders will also receive accrued and unpaid interest up to (but excluding) the expected settlement date of 5 February 2026 (subject to the issuer’s right to adjust the timetable).

The offer to purchase is contingent upon a series of conditions, including successful completion of the concurrent new money issuance (“New Issue Condition”). The company has appointed The Hongkong and Shanghai Banking Corporation Limited and Morgan Stanley & Co. International plc as Dealer Managers, while Kroll Issuer Services Limited acts as Information and Tender Agent. Full details and instructions for Eligible Holders are outlined in the company’s Offer to Purchase document.