Southwestern Energy offers swap, solicits consents for Indigo notes

Chicago, Aug. 2 – Southwestern Energy Co. started an exchange offer and consent solicitation for Indigo Natural Resources LLC’s $700 million outstanding 5 3/8% senior notes due Feb. 1, 2029 (Cusip: 45569LAC5), according to a press release.

The offer is being conducted due to the anticipated acquisition of Indigo by Southwestern.

The company is offering to exchange $1,000 of old notes for $1,000 of new Southwestern notes with the same coupon and maturity date, plus $5 in cash for noteholders who tender by the early deadline. Noteholders who tender after the early deadline are eligible to receive $970 of new notes for each $1,000 tendered.

Southwestern is also soliciting consents to eliminate substantially all of the restrictive covenants and events of default.

The exchange offer and consent solicitation are conditioned on the consummation of the transactions under the agreement and plan of merger from June 1.

The early deadline is 5 p.m. ET on Aug. 13.

The final deadline is 5 p.m. ET on Sept. 1.

Settlement is expected within two business days after the expiration date.

Ipreo LLC is the exchange agent and information agent (888 593-9546, 212 849-3880, Ipreo-ExchangeOffer@ihsmarkit.com).

Southwestern Energy is a Houston-based natural gas and oil company. Indigo is a Houston-based independent natural gas company.

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