SemGroup ends tender for TransMontaigne's 9 1/8% notes

New York, June 20 - SemGroup, LP said it ended its tender offer for TransMontaigne Inc.'s $200 million of 9 1/8% senior subordinated notes due 2010.

Tendered notes will be returned promptly.

The company previously announced it had dropped out of the bidding for TransMontaigne.

SemGroup, via its TMG Acquisition Co. subsidiary, had previously extended the tender to 5 p.m. ET on July 21 from 5 p.m. ET on June 20. It was launched on April 3.

As of 5 p.m. on June 7, the company said it received tender from holders of 99.89% of the notes.

It had also been soliciting consents to amend the note indenture to eliminate substantially all of the restrictive covenants and certain events of default and other provisions in the note indenture.

The offer was subject to conditions, including the completion of the merger and the receipt of consents from holders of a majority of the notes.

Banc of America Securities LLC was dealer manager and solicitation agent (contact High Yield Special Products at 888 292-0070 or call collect 704 388-4813). Global Bondholder Services was the information agent (866 389-1500 or call collect 212 430-3774).

SemGroup is a Tulsa, Okla., midstream service company. TransMontaigne is a Denver-based refined petroleum products terminaling and pipeline company.

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