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Clayton Williams gets tenders for $142.85 million of 7¾% notes so far
By Angela McDaniels
Tacoma, Wash., March 16 - Clayton Williams Energy, Inc. had received tenders for $142,845,000 principal amount, or 63.49%, of its $225 million 7¾% senior notes due 2013 as of 5 p.m. ET on March 15, which was the early participation payment deadline in a tender offer that began on March 2.
The purchase price will be $1,019.38 for each $1,000 principal amount of notes. This includes an early participation payment of $30.00 for each note tendered by the early deadline.
Holders will also receive accrued interest up to but excluding the payment date.
The tender offer will end at 5 p.m. ET on March 30.
The company will fund the offer with the proceeds from its $300 million issue of 7¾% senior notes due April 1, 2019.
RBS Securities Inc. (877 297-9832 or 203 897-6145) is the dealer manager for the tender offer. D.F. King & Co., Inc. (212 269-5550 for banks and brokers, others call 800 207-3158) is the depositary and information agent.
Clayton Williams is an independent energy company located in Midland, Texas.
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