NEEDHAM, Mass., May 1, 2013 /PRNewswire/ -- Plains End Financing, LLC ("Plains End") announced today that it is extending the expiration date of its previously announced consent and waiver solicitation (the "Consent Solicitation") seeking consents from holders of its outstanding 6.010% Senior Secured Bonds due 2028 (the "Bonds") for a waiver (the "Proposed Waiver") of the change of control repurchase obligation in the indenture governing the Bonds. The Consent Solicitation, which was previously scheduled to expire at 5:00 p.m., New York City time, on May 3, 2013, will be extended to 5:00 p.m., New York City time, on May 7, 2013, unless terminated by Plains End (the "Expiration Time"). Plains End further announced that it has increased the consent payment for consenting holders who validly deliver and do not revoke their consents prior to the Expiration Time from $1.50 in cash for each $1,000 in unpaid principal amount of the Bonds to $5.00 in cash for each $1,000 in unpaid principal amount of the Bonds. All other terms and conditions of the Consent Solicitation, as set forth in the Consent Solicitation and Waiver Statement dated March 13, 2013 (the "Consent Solicitation Statement"), remain the same. The Consent Solicitation is being made solely on the terms and subject to the conditions set forth in the Consent Solicitation and Waiver Statement and the accompanying Consent Form. Holders of Bonds are urged to review the Consent and Waiver Solicitation Statement and Consent Form for the detailed terms of the consent solicitation and the procedures for consenting to the Proposed Waiver. Any persons with questions regarding the consent solicitation should contact the Information Agent, D.F. King & Co. Inc., attention Elton Bagley, at (212) 269-5550. This announcement is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security. This announcement is also not a solicitation of consents with respect to the Proposed Waiver or any securities. No recommendation is being made as to whether holders of Bonds should consent to the Proposed Waiver. The solicitation of consents is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable state or foreign securities or "blue sky" laws.