MXenergy extends consent date for floaters due 2011

By Susanna Moon

Chicago, Dec. 30 - MXenergy Holdings Inc. said it delayed the consent payment deadline for its cash tender offer to purchase its outstanding floating-rate senior notes due 2011.

The consent solicitation will now end at 5 p.m. ET on Jan. 7, pushed back from Dec. 29. The tender offer will expire at midnight ET on Jan. 13.

The company is soliciting consents from holders of the notes to amend the notes.

As previously noted, total payment will be $500 for each $1,000 principal amount of notes plus accrued interest to the settlement date, which includes a consent fee of $50.00 per note for notes tendered by the consent date.

Adoption of the proposed amendments requires consent from holders of at least a majority of the notes.

Holders may not deliver consents without tendering their notes.

The tender offer is conditioned on the completion of an acquisition; a minimum tender; waivers from lenders and hedge provider under the amended revolving credit agreement; receipt of required consents and execution of a supplemental indenture; and receipt of proceeds from an acquisition or financing to fund the tender offer.

The tender offer may not be extended beyond May 31.

Morgan Stanley & Co. Inc. (800 624-1808 or 212 761-1864) is the dealer manager and solicitation agent. Global Bondholder Services Corp. (866 470-3800 or 212 430-3774) is the information agent.

MXenergy is a Stamford, Conn.-based natural gas and electricity supplier.

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