Alliant Energy completes tender offer for three exchangeables series

By Jennifer Chiou

New York, Oct. 16 - Alliant Energy Corp. said it wrapped the tender offer for Alliant Energy Resources, Inc.'s 7.25% exchangeable senior notes due 2030.

The offer ended at 5 p.m. ET on Oct. 15.

In all, holders tendered $402,479,715 principal amount, or 99.99%, of the $402,500,040 of notes.

The company previously said that it had obtained the needed consents as of 5 p.m. ET on Sept. 28. At that time, holders had tendered $402.3 million of the notes.

Alliant Energy paid the total amount of $40.00 per note, including the early tender payment of $2.00, to holders who tendered their notes by the offer deadline.

Alliant Energy already made a payment of $238,775,679 for $402,344,215 of the notes that was tendered prior to Sept. 28.

The company previously said it was extending the early tender date "to provide all holders of notes with the opportunity to receive the maximum amount payable pursuant to the tender offer and consent solicitation."

Each note has a principal amount of $67.75.

The company was soliciting consents to amend the notes' indenture to:

• Waive an alleged default asserted in a notice of default from the trustee;

• Rescind the notice of acceleration from the trustee, which declared the full principal amount of the notes due and payable;

• Acknowledge Alliant Energy's assumption of the obligations of Alliant Energy Resources under the indenture as well as Alliant Energy Resources' release from its obligations under the indenture;

• Direct the trustee to dismiss litigation;

• Approve amendments that would eliminate substantially all of the covenants and some of the events of default contained in the indenture; and

• Authorize the trustee and Alliant Energy to execute a supplemental indenture to the indenture.

Those who tendered had to also deliver consents.

Alliant Energy said it intended to finance the tender offer with borrowings under a $200 million term loan facility it entered into in connection with the offer as well as with cash on hand.

Citi (800 558-3745) was the dealer manager. Global Bondholder Services Corp. (866 807-2200 or call collect 212 430-3774) was the information agent.

Alliant Energy is a Madison, Wis., utility holding company.

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