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FirstEnergy Announces Expiration Of The Cash Tender Offer For FirstEnergy Solutions Corp.'s 6.05% Senior Notes Due 2021

Stocks in this article: FE

AKRON, Ohio, March 28, 2013 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced the expiration of the previously announced cash tender offer (the "Offer") for the 6.05% Senior Notes due 2021 (the "Notes") issued by FirstEnergy Solutions Corp. ("FES") pursuant to the Offer to Purchase, dated February 28, 2013.  The Offer expired at 11:59 p.m., EDT, on March 27, 2013 (such time and date, the "Expiration Date").  According to information provided by Bondholder Communications Group, LLC, the Information and Tender Agent, for the Offer, as of the Expiration Date, the aggregate principal amount of the Notes validly tendered and not validly withdrawn pursuant to the Offer was $252,695,000, comprising 43.2% of the Notes outstanding.  All Notes validly tendered and not validly withdrawn in the Offer prior to the Expiration Date have been accepted for purchase.  FES expects to make payment for the Notes in same-day funds today, March 28, 2013. 

Holders of Notes that validly tendered and did not validly withdraw their Notes by 5:00 p.m., EDT, on March 13, 2013 (the "Early Tender Date"), and whose Notes were accepted for purchase are entitled to receive the previously announced Total Consideration of $1,189.71 per $1,000 principal amount of Notes, plus accrued and unpaid interest to, but excluding the date of settlement.  Holders of Notes that validly tendered their notes after the Early Tender Date and on or before the Expiration Date, and whose Notes were accepted for purchase, are entitled to receive the previously announced Tender Offer Consideration of $1,139.71 per $1,000 principal amount of Notes, plus accrued and unpaid interest up to, but excluding, the date of settlement.

Information Relating to the Offer

FirstEnergy retained Goldman Sachs & Co. and Morgan Stanley & Co. LLC to serve as Lead Dealer Managers for the Offer and BNP Paribas Securities Corp., KeyBanc Capital Markets Inc., Santander Investment Securities Inc. and Scotia Capital ( USA) Inc. to serve as Co-Dealer Managers for the Offer.  Bondholder Communications Group, LLC served as the Information and Tender Agent for the Offer.

For additional information regarding the terms of the Offer, please contact:  Goldman Sachs at 800-828-3182 (toll free) or 212-902-5183 (collect) or Morgan Stanley at 800-624-1808 (toll free) or 212-761-1057 (collect).  Questions regarding the tender of Notes may be directed to the Information and Tender Agent at 888-385-2663 (toll free) or 212-809-2663 (collect).

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