Clearway Energy will buy or redeem any and all 5% notes due 2026

Chicago, Sept. 24 – Clearway Energy Operating LLC, a subsidiary of Clearway Energy, Inc., has started a cash tender offer for any and all of the $350 million outstanding 5% senior notes due 2026, according to a press release.

The company is offering to pay $1,027 per $1,000 note, plus accrued interest to the settlement date.

The offer will expire at 5 p.m. ET on Sept. 30. Notes can be withdrawn until that time.

Settlement for the tender offer will be Oct. 1.

Financing for the offer will come from a concurrent offering of notes. The tender offer is subject to the satisfaction of a financing condition, namely that the company raise at least $350 million from the new offering.

Clearway is exercising its right to optionally redeem any notes not purchased in the tender offer at 102.5, plus interest to the redemption date, on Oct. 24.

J.P. Morgan Securities LLC is the dealer manager for the tender offer (866 834-4666, 212 834-4087).

D.F. King & Co., Inc is the information agent for the offer (866 796-6867, 212 269-5550, cwen@dfking.com, www.dfking.com/cwen).

Princeton, N.J.-based Clearway invests in energy infrastructure, and its portfolio includes wind, solar and natural gas-fired power generation facilities.

© 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.