Homer City Generation extends solicitation for 8.137%, 8.734% notes

By Susanna Moon

Chicago, Oct. 26 – Homer City Generation, LP said it again extended the consent date for its $153,432,478 of 8.137% senior secured notes due 2019 and $478,122,575 of 8.734% senior secured notes due 2026.

The solicitation will now run until 5 p.m. ET on Oct. 30, extended from 5 p.m. ET on Oct. 23. The previous extension was announced on Oct. 14.

If a consent relates to fewer than all of the notes held of record as of 5 p.m. ET on Oct. 2, the holder must indicate on the letter of consent the series of notes and the aggregate dollar amount, in integral multiples of $1.00, of the notes to which the consent relates, according to a company press release. Otherwise, the consent will be deemed to relate to all the notes.

The waiver will become effective upon receipt of consents for a majority of the aggregate principal amount of notes, voting as a single class, excluding any notes owned by the company or its affiliates, according to a previous press release.

The effective date of the waiver may occur prior to the consent date if the needed consents are received prior to the consent date, the release noted.

The company said it will pay a consent fee of $3.75 per $1,000 principal amount to each consenting holder “promptly” following the consent date.

The solicitation began on Oct. 5.

Ipreo LLC (212 849-3880, 888 593-9546 or consent@ipreo.com) is the information and tabulation agent.

The Bank of New York Mellon is the trustee and collateral agent.

Homer City is a wholly owned subsidiary of GE Capital. The company is based in Stamford, Conn.

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