ANR Pipeline extends tender for 8 7/8% notes to Feb. 20

By Laura Lutz

Washington, Feb. 15 - ANR Pipeline Co. extended its tender offer for its $300 million outstanding principal amount of 8 7/8% notes due 2010 to 9 a.m. ET on Feb. 20 from 5 p.m. ET on Feb. 14.

In the tender, ANR will pay $1,048.13 per $1,000 principal amount of notes, a total that includes a $20.00 consent payment for holders who tendered by the consent deadline. The company will also pay accrued interest up to but excluding the payment date.

The company had received tenders for $269.2 million, or about 89.7%, of the notes as of 5 p.m. ET on Feb. 14. That amount was unchanged from the consent deadline at 5 p.m. ET on Jan. 26.

The consents allowed the company to eliminate restrictive covenants from the note indenture.

The offer began on Jan. 29.

Goldman, Sachs & Co. is the dealer manager and solicitation agent (800 828-3182). Global Bondholder Services Corp. is information agent (866 294-2200).

ANR is the natural gas storage and transportation subsidiary of Houston-based El Paso Corp.

© 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.