Macquarie accepts $358.58 million of tendered 2% convertibles

By Taylor Fox

New York, March 17 – Macquarie Infrastructure Corp. announced the results of its tender offer to purchase any and all of $402.5 million outstanding 2% convertible senior notes due 2023, according to a news release.

As of the 11:59 p.m. ET on March 16 expiration time, $358.58 million of the notes, or 89.1% of the notes outstanding, were tendered and accepted.

Macquarie repurchased the notes at par plus interest.

The company expects to pay $361.9 million for the purchase of the notes, including interest, on the settlement date, which is expected to be March 18.

After settlement, $43.92 million of the notes will remain outstanding.

As previously reported, the tender offer was not conditioned upon a minimum amount of notes being tendered but was subject to the satisfaction or waiver of certain conditions.

The company expects to fund purchases of notes validly tendered in the offer and accepted for purchase with cash on hand.

D.F. King & Co. Inc. (800 331-7024, 212 269-5550; macquarie@dfking.com) is the tender and information agent, and J.P. Morgan Securities LLC (866 834-4087, 212 834-4087) is the dealer manager.

New York-based Macquarie owns, operates and invests in a diversified group of infrastructure businesses that provide basic services.

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