Southwestern Energy Co. (NYSE: SWN) amended cash tender offers to purchase three groups of outstanding senior notes for up to $750 million total purchase price, the company said July 15.
As of July 14, about $84 million of the $350 million in 3.3% notes due 2018 have been tendered; about $173.4 million of the $600 million in 7.5% notes due 2018 have been tendered; and about $9.2 million of the $850 million in 4.05% notes due 2020 have been tendered.
The amended tender offers increased the consideration offered per $1,000 of the notes and extended the period during which validly tendered notes could receive the early tender premium. The expiration date of the tender offers was extended to Aug. 2 from the previous July 27 date.
All other terms and conditions remain unchanged, Southwestern said.
Credit Suisse Securities (USA) LLC and Mitsubishi UFJ Securities (USA) Inc. are the lead dealer managers, and D.F. King & Co. Inc. is retained as the tender agent and information agent.
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