UNS Energy Corporation (NYSE: UNS), formerly known as UniSource Energy Corporation, announced today that on Monday, June 11, 2012, it will redeem all of its outstanding 4.50 percent Convertible Senior Notes due 2035 ("Notes") with CUSIP numbers 909205 AB 2 and 909205 AA 4.
The Notes were originally issued in March 2005 in an aggregate principal amount of $150,000,000, of which approximately $35,000,000 remain outstanding. As described below, holders of the Notes have the option of converting their Notes into shares of UNS Energy common stock before the date specified for redemption.
The Notes will be redeemed at a redemption price of 100 percent of the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date.
Holders of Convertible Notes who wish to convert their Convertible Notes into shares of the Company’s common stock (“Common Stock”) rather than have their interests redeemed must exercise their conversion rights in accordance with the applicable procedures of DTC so as to cause the Convertible Notes to be surrendered for conversion prior to 5 p.m., New York City time, on Friday, June 8, 2012, the business day immediately preceding the Redemption Date, and to satisfy all other requirements set forth in paragraph 7 of the Convertible Notes and Article 7 of the Indenture. The Convertible Notes are convertible by the holders thereof into shares of Common Stock at a current conversion rate of 29.001 shares of Common Stock for each $1,000 principal amount of Convertible Notes converted, which represents a conversion price of approximately $34.48 per share of Common Stock.Copies of the notice of redemption may be obtained from the Bank of New York Mellon, the trustee, paying agent and conversion agent for the Notes, by calling Bondholder Relations at (800) 254-2826. UNS Energy is a Tucson, Arizona-based company with consolidated assets of approximately $4.0 billion. UNS Energy's primary subsidiaries include Tucson Electric Power, which serves more than 405,000 customers in southern Arizona; and UniSource Energy Services, provider of natural gas and electric service for about 240,000 customers in northern and southern Arizona. For more information about UNS Energy and its subsidiaries, visit uns.com.
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