PDVSA Announces Settlement of its Exchange Offers­ ISINs: XS0294364103, US716558AB79, USP7807HAK16 "Judit Balazs" pdvsa 28.10.2016 18:49:02

PDVSA Announces Settlement of its Exchange Offers­ ISINs: XS0294364103, US716558AB79, USP7807HAK16 "Judit Balazs" pdvsa 28.10.2016 18:49:02 Caracas, Venezuela, October 28, 2016 – Petróleos de Venezuela, S.A. (“PDVSA” or the “Company”) today announced the settlement of the exchange offers (the “Exchange Offers”) of its 5.250% Senior Notes due 2017 (the “April 2017 Notes”) and 8.50% Senior Notes due 2017 (the “November 2017 Notes,” and together with the April 2017 Notes, the “Existing Notes”) for new 8.50% Senior Secured Notes due 2020 (the “New Notes”). PDVSA today issued an aggregate principal amount of U.S.$3,367,529,000 of New Notes as consideration pursuant to the Exchange Offers. In addition, Holders who validly tendered Existing Notes received all accrued and unpaid interest on such Existing Notes for the period from the most recent interest payment date on such applicable Existing Notes until, but not including, October 28, 2016. Holders of the Existing Notes tendered U.S.$2,799,272,267 of Existing Notes, which was 39.43% of the aggregate principal amount outstanding. The maturity date for the New Notes is October 27, 2020 (the “Maturity Date”). Interest on the New Notes will accrue from October 28, 2016 and will be payable on each October 27 and April 27, commencing on April 27, 2017. Principal payments on the New Notes will be payable in four equal installments on October 27, 2017, October 27, 2018, October 27, 2019 and on the Maturity Date. The Announcement is available on the Offer Website: https://sites.dfkingltd.com/pdvsa. In case of any questions, please contact the Information and Exchange Agent at the below contact details: D.F. King & Co., Inc