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RICHMOND, Va., Sept. 3 /PRNewswire-FirstCall/ -- Massey Energy Company
(NYSE: MEE) announced today the expiration and final results of its tender
offer for any and all of its outstanding $335 million aggregate principal
amount of 6.625% senior notes due 2010 (the "6.625% Notes").
(Logo: http://www.newscom.com/cgi-bin/prnh/20071031/MASSEYENERGYLOGO )
The tender offer for the 6.625% Notes expired at midnight, New York City
time, on September 2, 2008 (the "Expiration Date"). As of the Expiration
Date, $313,051,000 in aggregate principal amount, or approximately 93.5%, of
the outstanding 6.625% Notes had been validly tendered and not withdrawn
pursuant to the tender offer and all of such 6.625% Notes have been accepted
for payment by Massey. On August 19, 2008, Massey accepted for payment and
paid for all 6.625% Notes validly tendered and not withdrawn on or prior to
5:00 p.m., New York City time, on August 18, 2008 (the "Consent Payment
Deadline"). For each $1,000 principal amount of 6.625% Notes validly tendered
and accepted for payment after the Consent Payment Deadline, but on or prior
to the Expiration Date, holders of 6.625% Notes will receive $1,001.57 in
cash, plus accrued and unpaid interest through, but excluding, the payment
date. The payment date for 6.625% Notes validly tendered and accepted for
payment after the Consent Payment Deadline and prior to the Expiration Date
will be Wednesday, September 3, 2008.
In addition, on August 19, 2008, Massey announced the execution of the
supplemental indenture regarding the proposed amendments relating to the
6.625% Notes described in the Offer to Purchase. The supplemental indenture
became operative on August 19, 2008 following the acceptance for payment by
Massey of the 6.625% Notes validly tendered and not withdrawn on or prior to
the Consent Payment Deadline.
UBS Securities LLC acted as dealer manager and solicitation agent for the
tender offer and consent solicitation.
This press release is for informational purposes only and is neither an
offer to purchase nor a solicitation of an offer to sell the 6.625% Notes.
Massey Energy Company, headquartered in Richmond, Virginia, with
operations in West Virginia, Kentucky and Virginia, is the fourth largest coal
producer by revenue in the United States and is included in the S&P 500 index.
FORWARD-LOOKING STATEMENTS: Statements in this press release relating to
future events and other disclosures and statements that are not historical
facts are forward-looking statements that involve risks and uncertainties.
Caution must be exercised in relying on these forward-looking statements as
actual results may differ materially from these forward-looking statements,
which are based on our then current expectations as a result of market
conditions, the actions by third parties, and many other factors. For a
discussion of such risks and uncertainties related to Massey, which could
cause actual results to differ from those contained in the forward-looking
statements, see Massey's earnings releases and see "Risk Factors" in Massey's
most recent Annual Report on Form 10-K and subsequently filed interim reports.
Such filings are available at Massey's website www.masseyenergyco.com or upon
request from Massey's Investor Relations Department at 866-814-6512. Massey
disclaims any intention or obligation to update any forward-looking statements
whether as a result of new information, future developments, or otherwise.
SOURCE Massey Energy Company
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