Exelon Corporation and Exelon Generation Announce the Results For Their Respective Offers to Purchase

September 23, 2009 - Exelon Corporation and Exelon Generation Announce the Results For Their Respective Offers to Purchase

 

CHICAGO (Sept. 23, 2009) – Exelon Corporation (Exelon) today announced the expiration of its previously announced cash tender offer for any and all of its outstanding $500,000,000 6.75% Senior Notes due May 1, 2011 (Exelon Notes).  The offer expired at 12:00 midnight, New York City time, on September 22, 2009.  According to information provided by the tender agent, D.F. King & Co., Inc., as of the expiration time, the aggregate principal amount of the Exelon Notes validly tendered pursuant to Exelon’s Offer to Purchase was $386,572,000. The settlement date is expected to be September 23, 2009. Additionally, Exelon Generation Company, LLC (Generation) today announced the expiration of its previously announced cash tender offer for any and all of its outstanding $699,975,000 6.95% Senior Notes due June 15, 2011 (Generation Notes).  The offer expired at 12:00 midnight, New York City time, on September 22, 2009.  According to information provided by the tender agent, D.F. King & Co., Inc., as of the expiration time, the aggregate principal amount of the Generation Notes validly tendered pursuant to Generation’s Offer to Purchase was $555,335,000. The settlement date is expected to be September 23, 2009. Holders of Exelon Notes that validly tendered and whose Exelon Notes are accepted for purchase are entitled to receive total consideration of $1,091.06 per $1,000 principal amount of Exelon Notes plus accrued and unpaid interest on notes purchased up to, but not including, the settlement date.  Holders of Generation Notes that validly tendered and whose Generation Notes are accepted for purchase are entitled to receive total consideration of $1,100.57 per $1,000 principal amount of Generation Notes plus accrued and unpaid interest on notes purchased up to, but not including, the settlement date. A total of $113,428,000 in aggregate principal of the Exelon Notes remains outstanding.  A total of $144,640,000 in aggregate principal of the Generation Notes remains outstanding. Pursuant to the terms of the applicable Offer to Purchase, Exelon Notes and Generation Notes not tendered remain outstanding, and the terms and conditions governing the notes, including the covenants and other provisions contained in the indenture applicable to the notes, will remain unchanged.

Viacom Announces $550 Million Debt Offering

Viacom Announces $550 Million Debt Offering

NEW YORK, Sept. 24 -- Viacom Inc. (NYSE: VIA and VIA.B) today announced that it has agreed to sell $250 million in aggregate principal amount of 4.250% senior notes due 2015 (the "2015 Senior Notes") at a price equal to 99.814% of the principal amount thereof and $300 million in aggregate principal amount of 5.625% senior notes due 2019 (the "2019 Senior Notes" and, together with the 2015 Senior Notes, the "Senior Notes") at a price equal to 101.938% of the principal amount thereof. The 2019 Senior Notes are a further issuance of Viacom's 5.625% senior notes due 2019 and are in addition to $250 million aggregate principal amount of 5.625% senior notes due 2019 issued on August 26, 2009. The sale of the Senior Notes is expected to close on September 29, 2009.

Viacom intends to use the net proceeds of the offering to repay all or a portion of the amounts outstanding under its revolving credit facility and/or its commercial paper program.

The joint book running managers for the Senior Notes are Banc of America Securities LLC, J.P. Morgan Securities Inc. and Wells Fargo Securities, LLC.

Viacom's senior unsecured debt is currently rated BBB by Standard & Poor's, Baa3 by Moody's Investors Service and BBB by Fitch.

A prospectus can be obtained by contacting Viacom Investor Relations at 800-516-4399 or by written request to Viacom Inc., 1515 Broadway, 52nd Floor, New York, New York 10036, Attn: Investor Relations.

Allegheny Energy Announces Debt Tender Offer

 

GREENSBURG, Pa.--(BUSINESS WIRE)--Allegheny Energy Supply Company, LLC (“AE Supply”), the power generation business of Allegheny Energy, Inc. (NYSE: AYE), announced today an offer to purchase for cash up to $150 million principal amount (the “Maximum Tender Amount”) of the following outstanding
notes (the “Notes”):

CUSIP

Title of

Principal

Maximum

Full Tender

Late Tender

Number

Security

Amount

Tender

Offer

Offer

Outstanding

Amount

Consideration(1)

Consideration(1)

017363AD4

7.80% Notes due 2011

$302,517,000

$150,000,000

$1,083.75

$1,068.75

⁽¹⁾ Per $1,000 principal amount of Notes.

Holders who tender and do not withdraw their Notes on or before 5:00 p.m., New York City time, on October 5, 2009, unless extended (the “Early Tender Date”), will be eligible to receive the Full Tender Offer Consideration described in the table above. Holders who tender Notes after the Early Tender Date and on or before midnight, New York City time, on October 20, 2009, will receive the Full Tender Offer Consideration minus an amount in cash equal to $15 for each $1,000 principal amount of Notes (the “Late Tender Offer Consideration”). In addition to the Full Tender Offer Consideration or the Late Tender Offer Consideration, as the case may be, payable in respect of Notes accepted for purchase, holders of Notes will receive accrued and unpaid interest on their purchased Notes from the last interest payment date to, but not including, the date of payment for purchased Notes.

The offer will expire at midnight, New York City time, on October 20, 2009, unless extended (such date and time, as the same may be extended, the “Expiration Date”).

The tender offer is subject to, and conditioned upon, the satisfaction or waiver of the general conditions described in the offer to purchase. If any of the general conditions are not satisfied or waived, AE Supply is not obligated to accept for payment, purchase, or pay for, and may delay the acceptance for payment of, any tendered Notes, in each event, subject to applicable laws, and may terminate the tender offer.
If the principal amount of the Notes tendered and not withdrawn exceeds the Maximum Tender Amount described in the table above, the principal amount of Notes purchased will be prorated based on the principal amount tendered. If any tendered notes are not accepted for payment, the Notes will be returned without expense to the tendering holder. AE Supply reserves the right, subject to applicable law, to extend, withdraw or terminate the tender offer. Further, AE Supply reserves the right to modify the Maximum Tender Amount provided in the table above with respect to the Notes in its sole discretion.

This release is neither an offer to purchase nor a solicitation of an offer to sell any Notes. The tender offer is being made pursuant to the offer to purchase and the letter of transmittal, copies of which will be delivered to all holders of the Notes. Persons with questions regarding the tender offer should contact the lead dealer manager, Credit Suisse, at (800) 820-1653 (toll free) or (212) 538-1862 (collect), or the Information Agent, Global Bondholder Services Corporation, at (866) 470-3900