Southwestern Energy Company (NYSE:SWN) Reports Final Results And Closure Of Cash Tender Offers


Southwestern Energy Company (NYSE:SWN) reported final results and conclusion of the previously stated cash tender offers to purchase any and all of the firm’s 4.05% senior notes due 2020 and up to an amount of the firm’s 4.10% senior notes due 2022 and 4.95% senior notes due 2025 equal to $800 million less the aggregate purchase price compensate for the 2020 Notes approved for purchase, excluding accrued interest. Because the maximum total purchase price surpasses the Threshold Amount, no 2025 Notes or 2025 Notes will be permitted for purchase in the Tender Offers.

The details

Southwestern Energy previously accepted for deal the $757.6 million total principal sum of its 2020 Notes that were genuinely tendered as on September 25, 2017. According to information obtained from D.F. King & Co., Inc., the Information Agent and Tender Agent for the Tender Offers, in as per the terms of the Tender Offers, an additional aggregate principal sum of $0.8 million of the 2020 Notes were validly tendered following the Early Settlement Date but prior or at to 12:00 midnight on October 6, 2017. On the final settlement date, which is presently anticipated to happen on the date hereof, the firm plans to buy all of the Final Tender sum.

J.P. Morgan Securities LLC is the Lead Dealer Manager in the Consent Solicitation and Tender Offers. D.F. King has been kept to serve as the Information Agent and Tender Agent for the Consent Solicitation and Tender Offers.

Earlier, Boardwalk Pipeline Partners, LP reported that its Texas Gas Transmission Company, LLC subsidiary unit has filed with the FERC seeking nod to restructure some of its current firm transportation deals and enter into new company transportation deals with subsidiaries of Southwestern Energy on Texas Gas Transmission Company’ Fayetteville and Greenville Laterals. Stan Horton, the CEO and President of Boardwalk, reported that these deals are value enhancing for company.

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