Tulsa’s Unit Corporation announced an offer to exchange some of its outstanding Senior notes due 2021 for newly-issued Senior notes due in 2024 and for Junior Secured notes due 2025.
The offer is for up to $300 million in the outstanding 6.625% Senior Secured notes due 2021 and $600 million in 7.000% Junior Secured Notes due 2025. Holders will be allowed to receive the Senior or Junior Secured notes in exchange for their Old Notes. But the holders must tender the notes before 5 p.m. New York City time on Nov. 25, 2019.
Holders will be able to receive $735 for a Senior Secured note or $1,000 for the Junior notes.
