HOUSTON, Oct. 10, 2017 /PRNewswire/ -- Southwestern
Energy Company (NYSE: SWN) (the "Company") today announced final
results and expiration of the previously announced cash tender
offers (the "Tender Offers") to purchase (i) any and all of the
Company's 4.05% senior notes due 2020 (the "2020 Notes") and (ii)
up to an amount of the Company's 4.10% senior notes due 2022 (the
"2022 Notes") and 4.95% senior notes due 2025 (the "2025 Notes")
equal to $800 million (subject to
increase by the Company, the "Threshold Amount") less the aggregate
purchase price paid for the 2020 Notes accepted for purchase,
excluding accrued interest (as it may be increased by the Company,
the "Maximum Aggregate Purchase Price"). Because the Maximum
Aggregate Purchase Price exceeds the Threshold Amount, no 2022
Notes or 2025 Notes will be accepted for purchase in the Tender
Offers.
The Company previously accepted for purchase the $757.6 million aggregate principal amount of its
2020 Notes that were validly tendered as of 5:00 p.m., New York
City time, on September 25,
2017 (that date and time, the "Early Settlement Date").
According to information received from D.F.
King & Co., Inc. ("D.F.
King"), the Tender Agent and Information Agent for the
Tender Offers, in accordance with the terms of the Tender Offers,
an additional $0.8 million aggregate
principal amount of the 2020 Notes (the "Final Tender Amount") were
validly tendered after the Early Settlement Date but at or prior to
12:00 midnight, New York City
time, on October 6, 2017 (that date and time, the
"Expiration Date"). On the "Final Settlement Date," which is
currently expected to occur on the date hereof, the Company intends
to purchase all of the Final Tender Amount.
J.P. Morgan Securities LLC ("J.P. Morgan") is the Lead Dealer
Manager in the Tender Offers and Consent Solicitation. D.F. King has been retained to serve as the
Tender Agent and Information Agent for the Tender Offers and
Consent Solicitation. Persons with questions regarding the Tender
Offers and Consent Solicitation should contact J.P. Morgan at (toll
free) (866) 834-4666 or (collect) (212) 834-8553. Requests for the
Offer to Purchase should be directed to D.F. King at (toll free) (866) 406-2283 or by
email to swn@dfking.com.
This news release shall not constitute an offer to sell, a
solicitation to buy or an offer to purchase or sell any securities.
The Tender Offers were made only pursuant to the Offer to Purchase
and only in such jurisdictions as is permitted under applicable
law. In any jurisdiction in which the Tender Offers are required to
be made by a licensed broker or dealer, the Tender Offers will be
deemed to be made on behalf of the Company by the Dealer Managers,
or one or more registered brokers or dealers that are licensed
under the laws of such jurisdiction.
Southwestern Energy Company is an independent energy company
whose wholly owned subsidiaries are engaged in natural gas and oil
exploration, development and production, natural gas gathering and
marketing. Additional information on the company can be found on
the Internet at http://www.swn.com.
Forward-Looking Statements
This news release contains forward-looking statements.
Forward-looking statements relate to future events and anticipated
results of operations, business strategies, and other aspects of
our operations or operating results. In many cases you can identify
forward-looking statements by terminology such as "anticipate,"
"intend," "plan," "project," "estimate," "continue," "potential,"
"should," "could," "may," "will," "objective," "guidance,"
"outlook," "effort," "expect," "believe," "predict," "budget,"
"projection," "goal," "forecast," "target" or similar words.
Statements may be forward looking even in the absence of these
particular words. Where, in any forward-looking statement, the
company expresses an expectation or belief as to future results,
such expectation or belief is expressed in good faith and believed
to have a reasonable basis. However, there can be no assurance that
such expectation or belief will result or be achieved. The actual
results of operations can and will be affected by a variety of
risks and other matters including, but not limited to, changes in
commodity prices; changes in expected levels of natural gas and oil
reserves or production; operating hazards, drilling risks,
unsuccessful exploratory activities; limited access to capital or
significantly higher cost of capital related to illiquidity or
uncertainty in the domestic or international financial markets;
international monetary conditions; unexpected cost increases;
potential liability for remedial actions under existing or future
environmental regulations; potential liability resulting from
pending or future litigation; and general domestic and
international economic and political conditions; as well as changes
in tax, environmental and other laws applicable to our business.
Other factors that could cause actual results to differ materially
from those described in the forward-looking statements include
other economic, business, competitive and/or regulatory factors
affecting our business generally as set forth in our filings with
the Securities and Exchange Commission. Unless legally required,
Southwestern Energy Company undertakes no obligation to update
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Southwestern Energy Company