Consolidated Energy raises tender for 6¾% notes to $551.2 million

New York, May 31 – Consolidated Energy Finance SA increased the size of its tender offer for its $1.05 billion 6¾% senior notes due 2019 to $551.2 million from the $500 million originally announced.

All other terms of the tender, including those applying to its $200 million of senior floating-rate notes due 2019, remain unchanged, according to a news release.

Consolidated Energy announced the tender offer on May 26, saying it would buy any and all of the floating-rate notes and up to $500 million of the 6¾% notes, the cap for the 6¾% notes now being increased.

Per $1,000 principal amount, the company is offering a total consideration of $1,000 for the floating-rate notes and $1,034.50 for the 6¾% notes.

Each total consideration includes an early tender payment of $30 per $1,000 principal amount of notes tendered by the early tender deadline, 5 p.m. ET on June 9.

The tender offer will expire at 11:59 p.m. ET on June 23.

If the amount of 6¾% notes tendered exceeds the cap, then the 6¾% will be subject to proration.

The tender offer is subject to the successful closing of an offering of new senior notes, among other conditions.

All notes purchased in the tender offer will be canceled.

The dealer manager is Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057). The tender and information agent is D.F. King & Co., Inc. (212 269-5550, 888 605-1958 or cef@dfKing.com).

Consolidated Energy Finance is based in Luxembourg. It is a subsidiary of Consolidated Energy Ltd., which acquires and develops companies that focus on alternative waste management and energy production.

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