| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Alon Refining Krotz Springs Inc. > News item |
Alon Krotz Springs purchases no notes under tender offer, consent bid
By Susanna Moon
Chicago, April 12 - Alon Refining Krotz Springs, Inc. announced the end of the tender offer and consent solicitation for its $216.5 million of 13½% senior secured notes due 2014 at midnight ET on April 11.
The offer expired without any notes or consents accepted for purchase, according to a company press release.
The company said it will make no payments under the offer, and there will be no amendments to the notes. All tendered notes will be returned to holders.
Along said on April 3 that it received tenders with consents from holders of $159,983,000 of the notes by the consent deadline at 5 p.m. ET on March 28.
The tendered amount represented 73.9% of the outstanding principal amount of the notes, according to a previous release by parent company Alon USA Energy, Inc.
The tender offer began on March 16.
As previously noted, the total purchase price was to be $1,080, including a $30.00 premium, for each $1,000 principal amount of notes tendered by the consent deadline.
The company also offered to pay accrued interest.
As reported before, the tender offer and consent solicitation were conditioned on a new financing of up to $700 million and the receipt of consents from holders of a majority of the outstanding notes.
Alon said on April 3 that it was exploring financing alternatives to its previously announced secured term loan plans.
Goldman, Sachs & Co. (800 828-3182 or collect at 212 357-4692) is the dealer manager and solicitation agent. Global Bondholder Services Corp. (866 470-3800 or for banks and brokers 212 430-3774) is the information agent and depositary.
Alon Refining Krotz Springs is a refinery based in Krotz Springs, La. The parent company is based in Dallas.
© 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.