This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Berry Petroleum Company Announces Expiration And Final Results Of Tender Offer For Its 10¼% Senior Notes Due 2014

Stocks in this article: BRY

Berry Petroleum Company (NYSE:BRY) announced today the expiration and final results of the Company’s previously announced cash tender offer (the “Tender Offer”) for up to $150.0 million aggregate principal amount of its 10¼% Senior Notes due 2014 (the “Notes”). The Tender Offer expired at 11:59 p.m., New York City time, on April 2, 2012. The Tender Offer was made pursuant to the Offer to Purchase dated March 6, 2012 (the “Offer to Purchase”).

Based on information provided by D.F. King & Co., Inc., the tender agent for the Tender Offer, $184.2 million in aggregate principal amount of Notes were validly tendered and not withdrawn in the Tender Offer. The Company accepted for purchase $150.0 million in aggregate principal amount of Notes (the “Accepted Notes”) validly tendered and not withdrawn at a purchase price of $1,175.00 per $1,000 principal amount (the “Total Consideration”), which was determined pursuant to a modified Dutch auction procedure described in the Offer to Purchase. Holders of $149.9 million in aggregate principal amount of Accepted Notes who validly tendered and did not withdraw their Accepted Notes on or prior to 5:00 p.m., New York City time, on March 19, 2012 (the “Early Tender Date”) will receive the Total Consideration, which includes an “Early Tender Payment” of $30.00, for each $1,000 principal amount of Notes so purchased. Holders of $0.1 million in aggregate principal amount of Accepted Notes who validly tendered their Notes after the Early Tender Date, but prior to the Expiration Date, will receive the Total Consideration less the Early Tender Payment for each $1,000 principal amount of Accepted Notes.

All Notes purchased in the Tender Offer will be retired. Any Notes that were tendered but not accepted for purchase will remain outstanding.

The Company will deposit with the Depositary Trust Company on April 3, 2012 the amount of cash necessary to pay for all Accepted Notes, which payment will include accrued and unpaid interest to, but not including, the date the Accepted Notes are purchased.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs