Taylor NGL tenders for 5.85% convertibles

New York, Feb. 11 - Taylor NGL LP said it has begun a tender offer for its 5.8% convertible subordinated unsecured debentures.

The Calgary, Alta.-based operator of natural gas processing facilities and pipelines will pay 101 plus accrued interest.

Taylor is making the tender following the change of control on Jan. 10 when AltaGas Income Trust acquired control of the company.

Expiration for the offer is 2 p.m. ET on March 14. If more than 90% of the debentures outstanding on Feb. 8 are tendered then Taylor will be required to redeem the remainder at 101 plus accrued interest.

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