NiSource receives tenders for $250.59 million of notes in offer for 7.875% notes due 2010

By Jennifer Chiou

New York, April 29 - NiSource Inc. said its finance subsidiary, NiSource Finance Corp., obtained tenders for $250.59 million of notes in its cash tender offer for up to $300 million principal amount of its outstanding 7.875% notes due 2010.

The early deadline was midnight ET on April 28, previously pushed back to match the expiration date of the offer from 5 p.m. ET on April 14.

The withdrawal deadline was 5 p.m. ET on April 14.

At the old early deadline, NiSource had received tenders of $248.07 million of the notes.

As announced on March 31, NiSource is offering to pay par for each $1,000 principal amount, including a fee of $30 for notes tendered by the early tender date.

The company also will pay accrued interest to the purchase date.

As of March 31, $932.43 million principal amount of the notes was outstanding.

NiSource said it was not soliciting consents to modify any of the covenants in the indenture governing the notes.

Citi (800 558-3745), JPMorgan Chase & Co. (800 866-4666 or collect 212 834-4802) and Wachovia Securities were the lead dealer managers. Banc of America Securities LLC, Credit Suisse and UBS Investment Bank were co-dealer managers.

Global Bondholder Services Corp. (866 873-7700 or 212 430-3774 for banks and brokers) was the information agent and depositary.

NiSource is a Merrillville, Ind., company engaged in natural gas transmission, storage and distribution as well as electric generation, transmission and distribution.

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