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FTI Consulting tenders for $400 million of 6¾% senior notes due 2020
By Susanna Moon
Chicago, Aug. 14 – FTI Consulting, Inc. said it began a cash tender offer for its $400 million principal amount of 6¾% senior notes due 2020.
The purchase price will be $1,037.88 for each $1,000 principal amount plus accrued interest to but excluding the settlement date of Aug. 28, according to a company press release.
The tender offer will run until 5 p.m. ET on Aug. 27.
Tendered notes may be withdrawn at any time before offer ends.
The company said it plans to redeem any remaining notes on Oct. 1 at 103.375 plus accrued interest to but excluding the redemption date.
The tender offer is conditioned on the company drawing enough proceeds under its revolving credit facility to fund the purchase.
The offer is not conditioned on a minimum amount of notes being tendered.
J.P. Morgan Securities LLC (800 834-4666 or 212 834-2046) is the dealer manager. D.F. King & Co., Inc. (866 620-2536 or 212 269-5550) is the information agent and tender agent.
FTI is a business advisory firm based in West Palm Beach, Fla.
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