Northern Tier Energy LLC Announces Early Settlement Of Tender Offer For 10.50% Senior Secured Notes Due 2017 And Call For Redemption Of Remaining 10.50% Senior Secured Notes Due 2017
RIDGEFIELD, Conn., Nov. 9, 2012 /PRNewswire/ -- Northern Tier Energy LLC ("Northern Tier Energy" or the "Company") announced today that it has exercised the early settlement election applicable to its previously announced tender offer (the "tender offer") for the 10.50% Senior Secured Notes due 2017 (CUSIP No. 665828AC3) (the "Notes") issued by the Company and Northern Tier Finance Corporation. The Company has accepted for purchase $253,057,000 aggregate principal amount of the Notes validly tendered at or before 5:00 p.m., New York City time, on November 1, 2012 (the "early tender deadline") pursuant to the tender offer and has paid the total consideration of $1,150 per $1,000 principal amount of Notes, which includes a consent payment of $30 per $1,000 principal amount of Notes.
The tender offer will expire at 11:59 p.m., New York City time, on November 14, 2012, unless extended or earlier terminated by the Company in its sole discretion. Holders who validly tender any remaining Notes after the early tender deadline but on or prior to the tender offer expiration will be eligible to receive $1,120 for each $1,000 principal amount of Notes.
The Company also announced today that it has issued a notice of redemption for all of the Notes that remain outstanding following consummation of the tender offer. On December 10, 2012 (the "redemption date"), the Company will redeem the remaining Notes at a redemption price of 103% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date.
The complete terms and conditions of the tender offer are set forth in an Offer to Purchase and Consent Solicitation Statement (the "Offer to Purchase") and related Consent and Letter of Transmittal ("Letter of Transmittal") that were distributed to holders of the Notes. Copies of the Offer to Purchase and Letter of Transmittal may be obtained from the Tender and Information Agent for the tender offer, Global Bondholder Services Corporation, at (866) 294-2200 (toll-free).
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