NiSource gives preliminary results, pricing for any-and-all offers

Chicago, Aug. 18 – NiSource Inc. gave preliminary results for its any-and-all and tender offers for four series of notes and announced pricing on Tuesday evening, according to a press release.

There are currently also capped tender offers continuing until 11:59 p.m. ET on Sept. 9, started at the same time.

Any-and-all offers

The following notes included in the any-and-all offer had the following amounts of participation and total considerations:

• $2,922,000 tendered (plus $20,000 tendered via guaranteed delivery procedures) of the $63,552,000 outstanding of the 4.45% notes due 2021 (Cusip: 65473QAY9) with a total consideration of $1,049.75 per $1,000 face amount of notes set using the 1.5% U.S. Treasury due Nov. 30, 2021 plus 40 basis points for a repurchase yield of 0.554%;

• $415,270,000 tendered (plus $1,727,000 tendered via guaranteed delivery procedures) of the $500 million outstanding of the 2.65% notes due 2022 (Cusip: 65473QBH5) with a total consideration of $1,051.03 per $1,000 face amount of notes set using the 1.375% U.S. Treasury due Oct. 15, 2022 plus 12.5 bps for a repurchase yield of 0.280%;

• $146,559,000 tendered (plus $137,000 tendered via guaranteed delivery procedures) of the $250 million of 3.85% notes due 2023 (Cusip: 65473QBA0) with a total consideration of $1,082.58 per $1,000 face amount of notes set using the 1.375% U.S. Treasury due Feb. 15, 2023 plus 35 bps for a repurchase yield of 0.507%; and

• $254,453,000 tendered (plus $968,000 tendered via guaranteed delivery procedures) of the $350 million of 3.65% notes due 2023 (Cusip: 65473PAF2) with a total consideration of $1,090.88 per $1,000 face amount of notes set using the 0.125% U.S. Treasury due May 15, 2023 plus 15 bps for a repurchase yield of 0.315%.

Pricing was set at 2 p.m. ET on Aug. 18.

The any-and-all tender offer expired at 5 p.m. ET on Aug. 18.

The settlement date for the any-and-all tender offer is expected on Aug. 19.

To the extent that less than all of the outstanding notes in the any-and-all offer are tendered and accepted for purchase, NiSource currently intends to redeem all of the any-and-all notes that remain outstanding following the consummation of the any-and-all tender offer. A notice of redemption has been issued to that effect.

Details

The dealer manager is Credit Suisse Securities (USA) LLC (800 820-1653, 212 325-2476).

The tender agent and information agent is D.F. King & Co., Inc. (212 269-5550, 877 679-4107).

NiSource intends to fund the purchase price of the notes accepted in the tender offers with a portion of the net proceeds from the sale of long-term debt securities in a public offering. The financing transaction was successfully consummated on Aug. 18.

The energy holding company is based in Merrillville, Ind.

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