DALLAS--(BUSINESS WIRE)--Blue Racer Midstream, LLC (“Blue Racer”) announced today the settlement and final results of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 6.125% senior unsecured notes due 2022 (the “2022 Notes”). The Tender Offer expired at 5:00 p.m., New York City time, on December 16, 2020 (the “Expiration Time”).
As of the Expiration Time, $242,704,000 aggregate principal amount of the 2022 Notes (34.7%) were validly tendered, as reported by the information agent for the Tender Offer, which includes 2022 Notes validly tendered pursuant to guaranteed delivery procedures. Blue Racer accepted for payment all such 2022 Notes validly tendered and not validly withdrawn in the Tender Offer and paid for such 2022 Notes today, December 23, 2020. Concurrently with the launch of the Tender Offer, Blue Racer gave notice of its intent to redeem, on January 7, 2021, any and all 2022 Notes not purchased in the Tender Offer, pursuant to the terms of the indenture governing the 2022 Notes, conditioned upon and subject to Blue Racer's (i) successful completion of its previously announced debt financing transaction, which has been satisfied, and (ii) borrowing of at least $150.0 million under its revolving credit facility.
Blue Racer engaged RBC Capital Markets, LLC, Wells Fargo Securities, LLC and TD Securities (USA) LLC to serve as dealer managers for the Tender Offer, and Global Bondholder Service Corporation to serve as the information agent for the Tender Offer.
The complete terms and conditions of the Tender Offer are described in the offer to purchase, dated December 8, 2020, and related notice of guaranteed delivery, copies of which are available at https://www.gbsc-usa.com/blueracer/ or may be requested from the information agent for the Tender Offer, Global Bondholder Service Corporation, by telephone at (866) 470-3700 (toll free) or for banks and brokers, at (212) 430-3774, and by email at email@example.com.
Persons with questions regarding the Tender Offer should contact the lead dealer manager for the Tender Offer, RBC Capital Markets, LLC, at (877) 381-2099 (toll free) or (212) 618-7843.
This press release does not constitute an offer to purchase or the solicitation of an offer to sell the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
This press release may include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Blue Racer expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by Blue Racer based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Blue Racer undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.