(Source: Business Wire)
Allegheny Energy Supply Company, LLC ("AE Supply"), the power generation business of Allegheny Energy, Inc. (NYSE: AYE), announced today an offer to purchase for cash up to $220 million principal amount (the "Aggregate Maximum Tender Amount") of the following outstanding notes (the "Notes"):
CUSIP Title of Principal Maximum Full Tender Late Tender Number(s) Security Amount Tender Offer Offer Outstanding Amount Consideration Consideration 017363AE2 &U01668AC3 8.25% Notes due2012 $650,000,000 $160,000,000 $1,082.50 $1,052.50 017363AD4 7.80% Notes due2011 $400,000,000 $100,000,000 $1,062.50 $1,032.50 -------------------------------------------------------------------------------
Holders who tender and do not withdraw their Notes on or before 5:00 p.m., New York City time, on August 21, 2009, unless extended (the "Early Tender Date"), will be eligible to receive the Full Tender Offer Consideration described in the table above for such series. Holders who tender Notes after the Early Tender Date and on or before midnight, New York City time, on September 4, 2009, will receive the Full Tender Offer Consideration minus an amount in cash equal to $30 for each $1,000 principal amount of Notes (the "Late Tender Offer Consideration"). In addition to the Full Tender Offer Consideration or the Late Tender Offer Consideration, as the case may be, payable in respect of Notes accepted for purchase, holders of Notes will receive accrued and unpaid interest on their purchased Notes from the last interest payment date to, but not including, the date of payment for purchased Notes.
The offer will expire at midnight, New York City time, on September 4, 2009, unless extended (such date and time, as the same may be extended, the "Expiration Date").
The tender offer is subject to, and conditioned upon, the satisfaction or waiver of the general conditions described in the offer to purchase. If any of the general conditions are not satisfied or waived, AE Supply is not obligated to accept for payment, purchase, or pay for, and may delay the acceptance for payment of, any tendered Notes, in each event, subject to applicable laws, and may terminate the tender offer.
