Consolidated Energy begins tender offer for floating-rate, 6¾% notes

By Angela McDaniels

Tacoma, Wash., May 26 – Consolidated Energy Finance SA began a tender offer for any and all of its $200 million senior floating-rate notes due 2019 and up to $500 million principal amount of its $1.05 billion 6¾% senior notes due 2019, according to a company news release.

Per $1,000 principal amount, the company is offering a total consideration of $1,000 for the floating-rate notes and $1,034.50 for the 6¾% notes.

Each total consideration includes an early tender payment of $30 per $1,000 principal amount of notes tendered by the early tender deadline, 5 p.m. ET on June 9.

The tender offer will expire at 11:59 p.m. ET on June 23.

If the amount of 6¾% notes tendered exceeds the cap, then the 6¾% will be subject to proration.

The tender offer is subject to the successful closing of an offering of new senior notes, among other conditions.

All notes purchased in the tender offer will be canceled.

The dealer manager is Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057). The tender and information agent is D.F. King & Co., Inc. (212 269-5550, 888 605-1958 or cef@dfKing.com).

Consolidated Energy Finance is based in Luxembourg. It is a subsidiary of Consolidated Energy Ltd., which acquires and develops companies that focus on alternative waste management and energy production.

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