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Blue Racer starts tender for up to $400 million 6 1/8% notes due 2022
Chicago, July 9 – Blue Racer Midstream, LLC announced a tender for up to $400 million of its 6 1/8% senior notes due 2022 (Cusips: 095796AA6, U0942MAA7 and U0942MAB5), according to a press release.
There are $700,312,000 principal amount of notes outstanding.
The company plans to fund the tender offer from a new $400 million note offering and cash on hand.
The early tender deadline is 5 p.m. ET on July 22.
Noteholders who tender their notes by the early deadline will receive $1,015.31 for each $1,000 principal amount of notes.
The amount includes an early tender payment of $30.00 per $1,000 face amount.
The offer will expire at 5 p.m. ET on Aug. 5.
Noteholders who tender after the early deadline but before the final expiration time will receive $985.31 for each $1,000 face amount of notes.
Tenders may be withdrawn at any time prior to 5 p.m. ET on July 22.
Wells Fargo Securities, LLC (866 309-6316, 704 410-4756) is the lead dealer manager.
SunTrust Robinson Humphrey, Inc. and TD Securities (USA) LLC are the co-dealer managers for the offer.
Global Bondholder Services Corp. (212 430-3774, 866 470-3700, contact@cgsc-usa.com) is the tender agent.
Blue Racer is a Dallas-based midstream energy company that owns, operates, develops and acquires midstream assets in the Utica Shale and some adjacent areas in the Marcellus Shale.
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