Kansas City Southern buys back $198.72 million of its 9½% notes

By Susanna Moon

Chicago, June 9 - Kansas City Southern said investors tendered $198.72 million principal amount of outstanding 9½% senior notes due 2008.

The tender offer expired at midnight ET on June 5.

For each $1,000 principal amount of notes, the company said it paid $1,024.29 plus accrued interest until the settlement date, which was May 30 for notes tendered by the consent deadline and June 9 for all other notes.

The total payout includes a consent fee of $30.00 for all notes delivered by the consent deadline.

The company also said on May 22 that it received tenders and consents for 99.2% of the outstanding notes as of the consent deadline, which is enough to amend the indenture. A supplemental indenture has been executed.

The tender offer and consent solicitation were conditioned on the receipt of enough proceeds from a new note offering to purchase the tendered notes and other customary conditions.

Morgan Stanley & Co. Inc. (800 624-1808 or collect at 212 761-5797) and Banc of America Securities LLC (888 292-0070 or collect 704 388-9217) were the solicitation agents. D.F. King & Co., Inc. (800 488-8075 or 212 269-5550) was the information agent.

Kansas City Southern is a Kansas City, Mo.-based railroad company.

© 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.