Expand Energy Corporation's Strategic Tender and Redemption
Expand Energy Corporation Announces Cash Tender Offer
Expand Energy Corporation (NASDAQ: EXE), based in Oklahoma City, has made a significant announcement regarding its outstanding bonds. The company is launching a cash tender offer for its 5.500% Senior Notes due 2026.
Tender Offer Details
The tender offer aims to purchase all outstanding 2026 Notes. Interested parties should note that the offer is in accordance with an Offer to Purchase document that has been issued. Information about the bid can be found in the Offer to Purchase, which outlines the key conditions and requirements for participants.
Key Aspects of the Tender Offer
The specific terms and details surrounding the 2026 Notes, including their CUSIP Numbers and principal amounts outstanding, will be outlined in the accompanying documentation issued by Expand Energy. It is vital for holders of these notes to refer to this documentation for an understanding of their options.
Expiration Time and Tendering Process
The tender offer is set to expire at 5:00 p.m. New York City time on a specified date unless an extension occurs. Participants will have the opportunity to withdraw their submitted notes under certain conditions, which are intended to provide flexibility and security to investors during the tendering process.
Considerations for Holders
Holders of the 2026 Notes who successfully submit their notes for the tender offer will also receive accrued interest up to the settlement date. This added consideration ensures that investors are fairly compensated for their holdings.
Redemption of Existing Senior Notes
Alongside the tender offer, Expand Energy has announced a conditional notice regarding the redemption of its 8.375% Senior Notes due 2028. This is an important development, as the redemption is aimed at reducing outstanding debt obligations.
Redemption Price and Process
The company intends to redeem the 2028 Notes, with the redemption price set at 102.792% of the principal amount. This action signifies Expand Energy's commitment to optimizing its capital structure and enhancing financial stability.
Dealer Managers and Contact Information
For any questions pertaining to the tender offer, Expand Energy has appointed J.P. Morgan Securities LLC and TD Securities (USA) LLC as dealer managers. They are available for queries and can provide further assistance regarding the tendering process.
How to Access Additional Resources
Holders of the 2026 Notes can obtain additional information, including the Offer to Purchase documentation, from D.F. King & Co., Inc. This organization serves as the information agent for the tender offer, ensuring that all parties have access to necessary details.
About Expand Energy Corporation
Expand Energy Corporation (NASDAQ: EXE) is a leading independent natural gas producer in the United States. The company is dedicated to disruptive innovation within the energy sector, focusing on cost-effective and responsible asset development. Its strategic goals are centered on creating sustainable value for stakeholders while adhering to operational excellence in its endeavors.
Frequently Asked Questions
What is the purpose of the cash tender offer?
The cash tender offer aims to buy back the outstanding 5.500% Senior Notes due 2026, allowing the company to manage its debt effectively.
What happens to my notes if I participate in the tender offer?
If you successfully tender your notes, you will receive the tender offer consideration along with any accrued interest up to the settlement date.
When is the tender offer expected to expire?
The tender offer is scheduled to expire at 5:00 p.m. New York City time on a certain date, unless the company decides to extend the offer.
What is the redemption price for the 2028 Notes?
The redemption price for the 2028 Notes will be 102.792% of the principal amount being redeemed, plus accrued interest.
How can I get more information about the tender offer?
Investors can reach out to the dealer managers or consult D.F. King & Co., Inc. for additional resources and information related to the tender offer.
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