Firstenergy Upsizes Previously Announced Cash Tender Offer, Announces Early Tender Participation Results and Election of Early Settlement
Previously, FirstEnergy announced an offer to purchase for cash up to an amended Maximum Tender Amount of its 7.375% Notes, Series C, due 2031 (2031 Notes) and 4.85% Notes, Series C, due 2047 (which, pursuant to their terms, accrue interest at a rate of 5.35% per annum as of the date of this news release) (2047 Notes and, together with the 2031 Notes, the Notes and, each, a Series of Notes). FirstEnergy has amended the terms of the Tender Offer to increase the maximum combined aggregate purchase price, including principal and premium but excluding accrued and unpaid interest, of Notes subject to the Tender Offer (Maximum Tender Amount) from $800 million to $1.1 billion. Participation results from the Tender Offer, shown below, are as of 5:00 p.m., New York City time, on June 13, 2022 (Early Tender Time).