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Encana tenders, solicits consents for $1 billion 5.8% notes due 2014
By Susanna Moon
Chicago, Feb. 28 - Encana Corp. said wholly owned subsidiary Encana Acquisition ULC began a cash tender offer and consent solicitation for the $1 billion 5.8% notes due May 1, 2014 issued by Encana Holdings Finance Corp.
The tender offer will end at 10 a.m. ET on March 28.
The company will pay $1,004.59 for each $1,000 principal amount plus accrued interest to but excluding the settlement date of March 31.
In addition, holders who tender their notes by 5 p.m. ET on March 13 will receive a consent payment of $2.50 per $1,000 principal amount.
The issuer expects to call any remaining notes after the tender offer ends, according to a press release.
Barclays (800 438-3242 or 212 528-7581 collect) is the dealer manager, and D.F. King & Co. (888 644-6071 or 212 269-5550 banks and brokers) is the tender agent and information agent.
Encana is a Calgary, Alta., oil and natural gas company.
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