Spire gives final results of tender offers for first mortgage bonds

By Sarah Lizee

Olympia, Wash., June 15 – Spire Inc. subsidiary Spire Missouri Inc. announced the final results of its cash tender offers to purchase any and all of its first mortgage bonds in five series, according to a press release.

The offers expired at 5 p.m. ET on June 12.

The following bonds were tendered under the offers:

• $5,715,000 of the $25 million of 7% bonds due June 1, 2029 (Cusip: 505588AY9) with pricing set using the 0.625% Treasury due May 15, 2030 plus 115 basis points for a tender consideration of $1,424.87 per $1,000 of notes;

• None of the $30 million of 7.9% bonds due Sept. 15, 2030 (Cusip: 505588BA0) with pricing set using the 0.625% Treasury due May 15, 2030 plus 120 bps for a tender consideration of $1,558.07 per $1,000 of notes;

• $755,000 of the $100 million of 6% bonds due May 1, 2034 (Cusip: 505588BE2) with pricing set using the 0.625% Treasury due May 15, 2030 plus 140 bps for a tender consideration of $1,469.56 per $1,000 of notes;

• $500,000 of the $55 million of 6.15% bonds due June 1, 2036 (Cusip: 505588BF9) with pricing set using the 2% Treasury due Feb. 15, 2050 plus 135 bps for a tender consideration of $1,434.69 per $1,000 of notes; and

• $55,000 of the $100 million of 4.625% bonds due Aug. 15, 2043 (Cusip: 505588BK8) with pricing set using the 2% Treasury due Feb. 15, 2050 plus 135 bps for a tender consideration of $1,312.04 per $1,000 of notes.

The company said that all bonds validly tendered and not withdrawn will be purchased and cancelled.

Pricing was determined at 2 p.m. ET on June 12.

Accrued interest will be paid to holders in cash.

Settlement is expected for June 16.

The offers were not conditioned on any minimum amount of bonds being tendered.

The information agent and tender agent is Global Bondholder Services Corp. (866 470-3900, 212 430-3774 for banks and brokers only) and the dealer manager is RBC Capital Markets, LLC (212 618-7843 collect, 877 381-2099 toll-free, liability.management@rbccm.com).

Spire is natural gas distribution company based in St. Louis.

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