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Prospect News home > News index > List of issuers T > Headlines for Tetra Technologies, Inc. > News item |
Tetra Technologies extends tender offer for 5.09%, 5.67% notes
By Marisa Wong
Morgantown, W.Va., May 18 – Tetra Technologies, Inc. said it extended its tender offer to purchase any and all of its outstanding 5.09% senior notes, series 2010-A, due Dec. 15, 2017 and 5.67% senior notes, series 2010-B, due Dec. 15, 2020. The tender offer will now expire at 11:59 p.m. ET on June 2, according to a Wednesday press release.
The offer was previously set to expire at 11:59 p.m. ET on May 24.
As of 5 p.m. ET on May 18, the company had received tenders totaling $46,944,444, or 72.2% of the outstanding principal amount of 5.09% and 5.67% notes.
The company began the tender offer for the 5.09% and 5.67% notes on April 26, along with a tender offer for its 4% senior notes due April 29, 2020.
The company is offering $100,000 per $100,000 principal amount of notes plus accrued interest up to but excluding the payment date.
Among other things, the tender offers are subject to a financing condition, which may include borrowings under the company’s existing credit facility, a new credit facility and/or proceeds from offerings of debt or equity securities.
The 4% notes were issued in a private placement in April 2013. The 5.09% notes and 5.67% notes were issued in a private placement in September 2010.
Tetra is a diversified oil and gas services company based in the Woodlands, Texas.
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