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
TheStreet Open House

Results Of Tender Offer Related To Tender Offer For Series A, B And C Notes Of White Pine Hydro, LLC

TORONTO, March 4, 2013 /PRNewswire/ -- BIF II US Renewable LLC (the "Offeror"), an affiliate of Brookfield Renewable Energy Partners, announced today that as of 11:59 p.m., New York City Time, on March 1, 2013 (the "Expiration Time"), its tender offer for $575,000,000 aggregate principal amount currently outstanding of the 6.31% Series A Notes due 2017 (the "Series A Notes"), 6.61% Series B Notes due 2027 (the "Series B Notes") and 6.96% Series C Notes due 2037 (the "Series C Notes") (collectively, the "Notes") of White Pine Hydro, LLC (the "Issuer"), has expired, and $503,900,000, or 87.63% of the Notes (the "Tendered Notes"), have been tendered and accepted for purchase pursuant to the Offeror's previously announced cash tender offer for any and all of the Notes (the "Tender Offer") and solicitation of consents (the "Consent Solicitation"), as described in the Offer to Purchase and Consent Solicitation Statement, dated January 31, 2013, as supplemented by Supplement No. 1, dated February 14, 2013 (as supplemented, the "Statement"), and a related Consent and Letter of Transmittal, dated January 31, 2013.

Under the terms of the Tender Offer, holders of the Series A Notes that validly tendered and did not withdraw their Notes prior to 5:00 p.m. New York City time, on February 22, 2013, (the "Early Consent Expiration ") are entitled to receive the Total Consideration (as set forth in the Statement) of $1,032.89 per $1,000.00 aggregate principal amount tendered of Notes, which included an early consent payment of $32.89 per $1,000.00 aggregate principal amount tendered of Notes. Holders of the Series B Notes that validly tendered and did not withdraw their Notes prior to the Early Consent Expiration are entitled to receive the Total Consideration of $1,033.26 per $1,000.00 aggregate principal amount of Notes, which included an early consent payment of $33.26 per $1,000.00 aggregate principal amount of Notes. Holders of the Series C Notes that validly tendered and did not withdraw their Notes prior to the Early Consent Expiration are entitled to receive the Total Consideration of $1,033.70 per $1,000.00 aggregate principal amount of the Notes, which included an early consent payment of $33.70 per $1,000.00 aggregate principal amount of Notes.

All holders of Tendered Notes will receive accrued and unpaid interest from the last interest payment date to, but not including the settlement date, which is expected to occur on or about March 6, 2013.       

This news release does not constitute a notice of redemption under the optional redemption provision of the Indenture, nor does it constitute an offer to sell or the solicitation of an offer to buy any securities of the Offeror or the Issuer. Nor is it an offer to sell securities or a solicitation of an offer to buy securities in any state or jurisdiction where prohibited by law. The Tender Offer and Consent Solicitation were made pursuant to the Statement and the related consent and letter of transmittal, copies of which have been delivered to all Holders. Persons with questions regarding the Tender Offer and Consent Solicitation should contact the Tender Agent and Information Agent, D.F. King & Co., Inc. at (800) 758-5378 (toll free).

Cautionary Statement Regarding Forward-Looking Information

Forward-looking information provided in this news release relating to the Offeror's expectations regarding the Tender Offer, Consent Solicitation and the Offeror's or the Issuer's future prospects and financial position are forward-looking information within the meaning of applicable United States securities laws. The Offeror believes that expectations reflected in such information are reasonable, but no assurance is given that such expectations will be correct. Forward-looking information is based on the Offeror's beliefs and assumptions based on information available at the time the assumption was made and on management's experience and perception of historical trends, current conditions and expected further developments as well as other factors deemed appropriate in the circumstances. Investors are cautioned that there are risks and uncertainties related to such forward-looking information and actual results may vary. The forward-looking information is made as of the date of this news release and neither the Offeror nor the Issuer assumes any obligation to update or revise them to reflect new events or circumstances, except as explicitly required by securities laws.

 

1 of 2

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!
DOW 17,390.52 +195.10 1.13%
S&P 500 2,018.05 -2.75 -0.14%
NASDAQ 4,630.7410 +64.6030 1.41%

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