KANSAS CITY, Mo., June 9, 2006 (PRIMEZONE) -- Aquila, Inc. (NYSE:ILA) today announced that it has further increased to $350 million the aggregate principal amount (the "Maximum Tender Amount") that it could be obligated to accept for payment in its pending cash tender offer for certain of its outstanding senior notes (the "Notes"). In addition, the company has extended the tender offer for the Notes until 12:00 Midnight, New York City Time, on June 23, 2006, unless extended or earlier terminated by the company (the "Expiration Time"). The Expiration Time may be further extended at the discretion of the company. No other terms of the tender offer are being modified at this time.
The tender offer is conditioned on the satisfaction of certain conditions described in the Offer to Purchase dated May 12, 2006. If any of the conditions are not satisfied, Aquila 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 even terminate the tender offer. The company expects to accept certain of the Notes for purchase promptly after the Expiration Time and expects that it will pay the purchase price for the Notes on the business day following the date the Notes are accepted. Holders whose Notes are accepted will receive accrued interest from the last interest payment date for such series of Notes, to, but not including, the date the Notes are purchased. Notes tendered may not be withdrawn, except as required by law.
The table below provides information about each series of Notes subject to the tender offer:
Amount
Tendered
Price Principal as of
Title of CUSIP Per Amount 11:30 am on
Security Number $1,000(1) Outstanding June 9, 2006
-------- ------ --------- ----------- ------------
6.700%
Notes due
10/15/2006 918005-AN-9 $1,003.77 $85,900,000 $84,490,000
8.200%
Notes due
01/15/2007 918005-AF-6 $1,015.12 $36,905,000 $22,269,000
7.625%
Notes due
11/15/2009 918005-AW-9 $1,046.25 $199,000,000 $130,501,000
9.950%
Notes due
02/01/2011 918005-AY-5 $1,135.00 $250,000,000 $115,291,000
7.750%
Notes due
06/15/2011 91800K-AB-2 $1,060.00 $197,000,000 $129,882,000
(1) Prices noted include the early tender payment of $20 per
$1,000 principal amount of Notes accepted for purchase. The
early tender payment applies solely to Notes tendered before
5:00 p.m., New York City time, on May 25, 2006.
Citigroup Corporate and Investment Banking is the Dealer Manager for the tender offer. Global Bondholder Services Corporation is the Information Agent and Depository. This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. Such an offer is made only by the Offer to Purchase, and the information in this news release is qualified by reference to the Offer to Purchase. Persons with questions concerning the offer should contact the Dealer Manager at (212) 723-6106 or toll-free at (800) 558-3745, or the Information Agent at (212) 431-3774 or toll-free at (866) 294-2200.
Based in Kansas City, Mo., Aquila operates electricity and natural gas distribution utilities serving 1.2 million customers in communities in Colorado, Iowa, Kansas, Minnesota, Missouri and Nebraska. At March 31, 2006, Aquila had total assets of $4.2 billion. More information is available at www.aquila.com.
The Aquila, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1753