Allegheny Energy Supply offers to buy up to $150 million of 7.8% notes

By Angela McDaniels

Tacoma, Wash., Sept. 22 - Allegheny Energy Supply Co., LLC has begun a tender offer for up to $150 million of the $302,517,000 outstanding principal amount of its 7.8% notes due 2011, according to a company news release.

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 5 p.m. ET on Oct. 5, the early tender date.

The offer will expire at midnight ET on Oct. 20.

If the principal amount of notes tendered exceeds $150 million, 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 power generation business of Greensburg, Pa.-based electric utility Allegheny Energy, Inc.

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