Aethon United BR LP (“Aethon United”) announced the final results and expiration of its cash tender offer to purchase any and all outstanding 8.25% Senior Notes due 2026. As of 5:00 p.m. on September 25, 2024, tenders for $733.47 million, or 97.80% of the total outstanding Notes, had been received. This excludes $3.46 million still subject to guaranteed delivery procedures.
The tender offer was conducted under the terms outlined in the Offer to Purchase dated September 19, 2024, and the related Notice of Guaranteed Delivery. The Offerors will pay $1,013.52 for each $1,000 of principal for Notes validly tendered, plus accrued interest up to October 1, 2024, the Settlement Date. Interest on accepted Notes will stop accruing after this date, and purchased Notes will be retired.
The Tender Offer’s completion is subject to certain conditions, including a successful debt financing by the Offerors. There is no assurance that any Notes will be purchased, and the offer may be amended, extended, or terminated.
Any Notes not purchased in the Tender Offer are expected to be redeemed around February 15, 2025, at 100% of the principal amount plus accrued interest. J.P. Morgan Securities LLC is serving as the exclusive Dealer Manager for the offer.
