Homer City Generation extends consent bid for 8.137%, 8.734% notes

By Susanna Moon

Chicago, Oct. 14 – Homer City Generation, LP said it extended the consent date in the solicitation for its $153,432,478 of 8.137% senior secured notes due 2019 and $478,122,575 of 8.734% senior secured notes due 2026 to 5 p.m. ET on Oct. 23.

The waiver will become effective upon receipt of consents for a majority of the aggregate principal amount of notes, voting as a single class, excluding any notes owned by the company or its affiliates, according to a company press release.

The effective date of the waiver may occur prior to the consent date if the needed consents are received prior to the consent date, the release noted.

The company said it will pay a consent fee of $3.75 per $1,000 principal amount to each consenting holder “promptly” following the consent date.

The solicitation began on Oct. 5.

Ipreo LLC (212 849-3880 or 888 593-9546, Aaron Dougherty, or at consent@ipreo.com) is the information and tabulation agent.

The Bank of New York Mellon is the trustee and collateral agent.

Homer City is a wholly owned subsidiary of GE Capital. The company is based in Stamford, Conn.

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