W&T Offshore commences tender offer for $275M 2026 notes, plans $350M new notes due 2029

W&T OFFSHORE INC

Tender offer for any and all $275M outstanding 11.750% Senior Second Lien Notes due 2026.
Total consideration of $1,036.25 per $1,000 principal ($30 early tender premium) for holders tendering by Jan 27.
Offer conditioned on issuance of $350M new senior second lien notes due 2029; conditional redemption of any remaining 2026 notes on Aug 1, 2025 at par.
Concurrent consent solicitation seeks to eliminate substantially all restrictive covenants in the indenture.
Early settlement expected Jan 28; final settlement expected Feb 13.

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