This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Alpha Natural Resources Announces Completion Of Its Tender Offer For 3.250% Convertible Senior Notes Due 2015

BRISTOL, Va., Oct. 26, 2012 /PRNewswire/ -- Alpha Natural Resources, Inc. (NYSE: ANR) ("Alpha") today announced the completion of the previously announced cash tender offer by Alpha and Alpha Appalachia Holdings, Inc. (formerly Massey Energy Company) (the "Issuer" and, together with Alpha, the "Offerors"), for up to $350 million aggregate principal amount of the outstanding 3.250% Convertible Senior Notes due 2015 issued by the Issuer (the "Notes") and consent solicitation to amend certain terms of the indenture under which the Notes were issued as described in the Offer to Purchase and Consent Solicitation Statement dated September 27, 2012 and the related Consent and Letter of Transmittal. The tender offer expired at 11:59 p.m., New York City time, on October 25, 2012 (the "Final Expiration Date").

On October 26, 2012, the Offerors expect to make the payment in cash for all Notes tendered after 5 p.m. New York City time, on October 11, 2012 (the "Early Expiration Date") and prior to the Final Expiration Date.  The Offerors expect to fund this cash payment with a portion of the proceeds from Alpha's public offering of $500 million aggregate principal amount of 9.75% senior notes due 2018, which closed on October 11, 2012.

Between the Early Expiration Date and the Final Expiration Date, the Offerors received and accepted tenders in respect of an additional $162,000 aggregate principal amount of Notes, all of which have been accepted for purchase by the Offerors.  The total cash payment due upon final settlement of these accepted Notes, including accrued and unpaid interest, is approximately $150,300.

The holders of these accepted Notes are not entitled to receive the "Early Tender Payment" of $20 per $1,000 principal amount of Notes.

As previously announced, on October 12, 2012, the Offerors purchased for cash $122,349,000 aggregate principal amount of the Notes, which were tendered on or before the Early Expiration Date. In total, the Offerors received tenders of $122,511,000 aggregate principal amount, or 18.6 percent, of the outstanding Notes.  The total cash payment made in connection with early settlement and final settlement of the accepted Notes, including accrued and unpaid interest, will be approximately $116.0 million.

Citigroup Global Markets Inc. and Barclays Capital Inc. served as the dealer managers for the tender offer, and D.F. King served as the tender agent and information agent.

This announcement does not constitute an offer to purchase or a solicitation of an offer to sell securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

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