NiSource Inc. (NI) Announces Results From Cash Tender Offer of 10.75% Notes due 2016
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NiSource Inc. (NYSE: NI) announced today the expiration and final results of the previously announced cash tender offers of its finance subsidiary, NiSource Finance Corp. to purchase any and all of its outstanding 10.75% Notes due 2016 ("2016 Notes") and, if less than $250,000,000 aggregate principal amount of 2016 Notes are validly tendered and accepted for purchase, an amount of its 6.15% Notes due 2013 ("2013 Notes") equal to the difference between $250,000,000 and the aggregate principal amount of 2016 Notes validly tendered and accepted for purchase.
The tender offers expired at 11:59 p.m., New York City time, on December 12, 2011 (the "Expiration Date"). As of the Expiration Date, the aggregate principal amount of 2016 Notes validly tendered and not validly withdrawn was $125,329,000 and the aggregate principal amount of 2013 Notes validly tendered and not validly withdrawn was $228,705,000, according to information provided by Global Bondholder Services Corporation, the depositary for the tender offers. All 2016 Notes that were validly tendered and not withdrawn will be purchased at a price of $1,351.58 per $1,000 principal amount, which includes an early tender premium of $30.00 (the "Total 2016 Consideration"), plus accrued and unpaid interest up to, but not including, the payment date. 2013 Notes that were validly tendered and not withdrawn will be purchased on a pro rata basis in an aggregate principal amount of $124,668,000 at a purchase price of $1,062.22 per $1,000 principal amount, which includes an early tender premium of $30.00, plus accrued and unpaid interest up to, but not including, the payment date. All Notes purchased in the tender offers will be retired.
As previously announced, NiSource Finance elected to exercise the early settlement option described in the Offer to Purchase dated November 14, 2011, with respect to the tender offer for any and all 2016 Notes. Holders of 2016 Notes who validly tendered and did not validly withdraw their 2016 Notes on or prior to 5:00 p.m., New York City time, on November 22, 2011 received payment of the Total 2016 Consideration and accrued interest on November 28, 2011 (the "Early Settlement Date"). A total of approximately $125,264,000 aggregate principal amount of 2016 Notes was purchased on the Early Settlement Date.
NiSource Finance previously extended the deadline by which holders who tendered their 2016 Notes and 2013 Notes would be eligible to receive the Total Consideration, which includes an early tender premium of $30.00, plus accrued and unpaid interest, until the expiration date of the offer, which was 11:59 p.m., New York City time, on December 12, 2011.
The tender offers were made solely by the Offer to Purchase, which set forth the terms and conditions of the tender offers, and the related Letter of Transmittal.
Citigroup Global Markets Inc. was the dealer manager for the tender offers. Questions regarding the tender offers may be directed to Citigroup at (212) 723-6106 (collect) or (800) 558-3745 (toll-free). Requests for documents may be directed to Global Bondholder Services Corporation, the information agent and depositary for the tender offers, at (212) 430-3774 (for banks and brokers) or (866) 952-2200 (U.S. toll-free).
The tender offers expired at 11:59 p.m., New York City time, on December 12, 2011 (the "Expiration Date"). As of the Expiration Date, the aggregate principal amount of 2016 Notes validly tendered and not validly withdrawn was $125,329,000 and the aggregate principal amount of 2013 Notes validly tendered and not validly withdrawn was $228,705,000, according to information provided by Global Bondholder Services Corporation, the depositary for the tender offers. All 2016 Notes that were validly tendered and not withdrawn will be purchased at a price of $1,351.58 per $1,000 principal amount, which includes an early tender premium of $30.00 (the "Total 2016 Consideration"), plus accrued and unpaid interest up to, but not including, the payment date. 2013 Notes that were validly tendered and not withdrawn will be purchased on a pro rata basis in an aggregate principal amount of $124,668,000 at a purchase price of $1,062.22 per $1,000 principal amount, which includes an early tender premium of $30.00, plus accrued and unpaid interest up to, but not including, the payment date. All Notes purchased in the tender offers will be retired.
As previously announced, NiSource Finance elected to exercise the early settlement option described in the Offer to Purchase dated November 14, 2011, with respect to the tender offer for any and all 2016 Notes. Holders of 2016 Notes who validly tendered and did not validly withdraw their 2016 Notes on or prior to 5:00 p.m., New York City time, on November 22, 2011 received payment of the Total 2016 Consideration and accrued interest on November 28, 2011 (the "Early Settlement Date"). A total of approximately $125,264,000 aggregate principal amount of 2016 Notes was purchased on the Early Settlement Date.
NiSource Finance previously extended the deadline by which holders who tendered their 2016 Notes and 2013 Notes would be eligible to receive the Total Consideration, which includes an early tender premium of $30.00, plus accrued and unpaid interest, until the expiration date of the offer, which was 11:59 p.m., New York City time, on December 12, 2011.
The tender offers were made solely by the Offer to Purchase, which set forth the terms and conditions of the tender offers, and the related Letter of Transmittal.
Citigroup Global Markets Inc. was the dealer manager for the tender offers. Questions regarding the tender offers may be directed to Citigroup at (212) 723-6106 (collect) or (800) 558-3745 (toll-free). Requests for documents may be directed to Global Bondholder Services Corporation, the information agent and depositary for the tender offers, at (212) 430-3774 (for banks and brokers) or (866) 952-2200 (U.S. toll-free).
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