Press release
Expand Energy Corporation Announces Tender Offer for 5.500% Senior Notes due 2026 and Redemption of 8.375% Senior Notes due 2028
OKLAHOMA CITY, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Expand Energy Corporation (NASDAQ: EXE) (“Expand Energy”) announced today a cash tender offer (the “Tender
About this update from Expand Energy Corporation
[{"type":"text","content":"OKLAHOMA CITY, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Expand Energy Corporation (NASDAQ: EXE) (“Expand Energy”) announced today a cash tender offer (the “Tender Offer”) for any and all of its outstanding 5.500% Senior Notes due 2026 (the “2026 Notes”) and a conditional notice of redemption to redeem (the “Redemption”) all of its outstanding 8.375% Senior Notes due 2028 (the “2028 Notes”). Tender OfferExpand Energy has commenced the Tender Offer for any and all of the 2026 Notes. The Tender Offer is being made pursuant to an Offer to Purchase, dated November 20, 2024 (as may be amended or supplemented from time to time, the “Offer to Purchase”) and the related Notice of Guaranteed Delivery. Certain information regarding the 2026 Notes and the terms of the Tender Offer is summarized in the table below. Title of SecurityCUSIP Numbers / ISINsPrincipal Amount OutstandingU.S. Treasury Reference SecurityBloomberg Reference PageFixed Spread5.500% Senior Notesdue 2026144A: 165167DF1 / US165167DF18Reg S:U16450BA2 / USU16450BA27$500,000,0004.125% due January 31, 2025FIT30 bps The Tender Offer will expire at 5:00 p.m., New York City time, on November 26, 2024, unless extended or earlier terminated (such time and date, as the same may be extended, the “Expiration Time”). Tendered 2026 Notes may be withdrawn at any time before the earlier of (i) the Expiration Time and (ii) if the Tender Offer is extended, the 10th business day after the commencement of the Tender Offer. In addition, tendered 2026 Notes may be withdrawn at any time after the 60th business day after the commencement of the Tender Offer if for any reason the Tender Offer has not been consummated within 60 business days after commencement. Holders of 2026 Notes must validly tender and not validly withdraw their 2026 Notes (or comply with the procedures for guaranteed delivery) before the Expiration Time to be eligible to receive the consideration for their Notes. The “Tender Offer Consideration” for each $1,000 principal amount of the 2026 Notes validly tendered, and not validly withdrawn, and accepted for purchase pursuant to the Tender Offer will be determined in the manner described in the Offer to Purchase by reference to the fixed spread for the 2026 Notes specified above plus the yield based on the bid-side price of the U.S. Treasury Reference Security specified above, as quote...