Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2020 > News item |
Blue Racer gives results of tender offer for 6 1/8% notes due 2022
By Cady Vishniac
Detroit, Dec. 23 – Blue Racer Midstream, LLC has accepted valid tenders for $242,704,000, or 34.7%, of its outstanding $700.3 million 6 1/8% senior notes due 2022, according to a press release.
As previously reported, the offer to purchase any and all of the outstanding notes for cash commenced on Dec. 8.
Holders who tendered notes prior to the expiration time will receive $1,001.65 per $1,000 of notes accepted for purchase plus interest.
The tender offer was contingent upon, among other things, Blue Racer’s successful completion of a proposed debt financing transaction, the gross proceeds of which will be at least $550 million, and borrowing of at least $150 million under its revolving credit facility. Blue Racer priced an upsized offer of $600 million notes on Dec. 9.
Concurrently with the launch of the offer, Blue Racer has given notice of its intent to redeem on Jan. 7 any and all 2022 notes not purchased in the tender offer.
The offer expired at 5 p.m. ET on Dec. 16.
Settlement is schedule for Dec. 23.
Global Bondholder Service Corp. (866 470-3700, 212 430-3774 for banks and brokers; contact@gbsc-usa.com; https://www.gbsc-usa.com/blueracer) is the information agent, and RBC Capital Markets, LLC (877 381-2099, 212 618-7843), Wells Fargo Securities, LLC and TD Securities (USA) LLC acted as dealer managers.
Blue Racer is a Dallas-based midstream company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.