Consolidated Energy extends capped tender offer for floaters due 2022

By William Gullotti

Buffalo, N.Y., June 21 – Consolidated Energy Finance SA extended a tender offer announced June 17 for up to $210 million of its $425 million outstanding senior floating-rate notes due 2022 (Cusips: L1957QAC4, 20914UAC0), according to a notice.

Noteholders must tender their notes by the early tender deadline of 5 p.m. ET on July 1 to receive the early payment. The previous deadline was June 30.

The early deadline continues to be the withdrawal deadline.

The tender offer will expire at 11:59 p.m. ET on July 16. The previous deadline was July 15.

The offer was extended as a result of the new Juneteenth federal holiday in the United States.

Tenders may be subject to proration if the cap is exceeded.

As previously reported, the company is offering a total consideration of $1,000 per $1,000 note, inclusive of a $30 early tender payment. Interest will also be paid.

The offer is subject to the satisfaction of a financing condition, based on the successful drawings on an incremental term loan and/or revolver that lists in one capacity or another parent Consolidated Energy AG, the issuer and Methanol Holdings (Delaware) LLC as borrowers.

Morgan Stanley & Co. LLC is the dealer manager (800 624-1808, 212 761-1057).

D.F. King & Co., Inc is the information and tender agent for the offer (800 591-8263, 212 269-5550, cef@dfking.com).

Consolidated Energy Finance is based in Luxembourg. It is a subsidiary of Consolidated Energy Ltd., which acquires and develops companies that focus on alternative waste management and energy production.

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