Allegheny Energy increases tender cap for 7.8% notes to $165 million

By Angela McDaniels

Tacoma, Wash., Oct. 6 - Allegheny Energy Supply Co., LLC increased the maximum principal amount of 7.8% notes due 2011 it will purchase in its tender offer to $165 million from $150 million, according to a company news release.

Holders had tendered $151,919,000 of the $302,517,000 outstanding principal amount of notes as of 5 p.m. ET on Oct. 5, the early tender date.

Holders will receive $1,083.75 for each $1,000 principal amount plus accrued interest up to, but excluding, the payment date. The purchase price includes a $15.00 premium for each note tendered by the early tender date.

The offer began Sept. 22 and will expire at midnight ET on Oct. 20.

If the principal amount of notes tendered exceeds the cap, the principal amount of notes purchased will be prorated.

Credit Suisse (800 820-1653 or 212 538-1862) is the lead dealer manager, and Global Bondholder Services Corp. (866 470-3900) is the information agent.

Allegheny Energy Supply is the merchant power generation business of Greensburg, Pa.-based electric utility Allegheny Energy, Inc.

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