Southwestern Energy Announces Early Results of Cash Tender Offers and Increase in Maximum Tender Amount
December 07, 2021 at 07:01 pm EST
Southwestern Energy Company announced the early results of its previously announced cash tender offers (the Tender Offers) to purchase for cash up to $250,000,000 aggregate principal amount (the Maximum Tender Amount) of its 4.95% Senior Notes due 2025 (the 2025 Notes) and its 7.75% Senior Notes due 2027 (the 2027 Notes and, together with the 2025 Notes, the Notes), subject to the terms and conditions described in the Companys Offer to Purchase dated November 23, 2021 (the Offer to Purchase). In addition, the Company announced an increase in the Maximum Tender Amount from $250,000,000 to $300,000,000. The other terms of the Tender Offers, including the proration provisions, the acceptance priority levels and the sub cap for the 2027 Notes, in the Offer to Purchase, are unchanged. Because the increased Maximum Tender Amount is exceeded by the aggregate principal amount of 2025 Notes tendered in the Tender Offers, the Company will not purchase any tendered 2027 Notes. In addition, all of the 2025 Notes validly tendered at or prior to 5:00 p.m., New York Time, December 29, 2021 (the Expiration Date), including the 2025 Notes tendered as of the Early Tender Time and any additional 2025 Notes validly tendered following the Early Tender Time, will be subject to proration based on the total principal amount of 2025 Notes validly tendered at or prior to the Expiration Date.