Southwestern Energy Announces Extension of Its Previously Announced Tender Offers

Source: www.gulfoilandgas.com 12/30/2021, Location: North America

Southwestern Energy Company announced the extension of its previously announced cash tender offers (the “Tender Offers”) to purchase for cash up to $300,000,000 aggregate principal amount (the “Maximum Tender Amount”) of its 4.95% Senior Notes due 2025 (the “2025 Notes”) and its 7.75% Senior Notes due 2027 (the “2027 Notes” and, together with the 2025 Notes, the “Notes”), subject to the terms and conditions described in the Company’s Offer to Purchase dated November 23, 2021 (the “Offer to Purchase”).

The Tender Offers extended expiration date is 5:00 p.m., New York City time, on December 30, 2021 (the “Extended Expiration Date”).

The terms and conditions of the Tender Offers otherwise remain unchanged and are set forth in the Offer to Purchase. According to information received from Global Bondholder Services Corporation, the Tender Agent and Information Agent for the Tender Offers, as of 5:00 p.m., New York City Time, on December 29, 2021, the Company received $401,547,000 aggregate principal amount of 2025 Notes validly tendered (and not validly withdrawn).

Because the increased Maximum Tender Amount is exceeded by the aggregate principal amount of 2025 Notes tendered in the Tender Offers, the Company will not purchase any tendered 2027 Notes. In addition, all of the 2025 Notes validly tendered at or prior to the Extended Expiration Date, including the 2025 Notes tendered as of 5:00 p.m. New York City Time on December 7, 2021 (the “Early Tender Time”) and any additional 2025 Notes validly tendered following the Early Tender Time, will be subject to proration based on the total principal amount of 2025 Notes validly tendered at or prior to the Extended Expiration Date.

RBC Capital Markets, LLC and Wells Fargo Securities, LLC are the Lead Dealer Managers in the Tender Offers and BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc. are Co-Dealer Managers in the Tender Offers. Global Bondholder Services Corporation has been retained to serve as the Tender Agent and Information Agent for the Tender Offers. Persons with questions regarding the Tender Offers should contact RBC Capital Markets, LLC at (toll free) (877) 381-2099 or (collect) (212) 618-7843 and Wells Fargo Securities, LLC at (toll free) (866) 309-6316 or (collect) (704) 410-4756. Requests for the Offer to Purchase should be directed to Global Bondholder Services Corporation at (toll free) (866) 807-2200 or by email to contact@gbsc-usa.com.

None of the Company, the Dealer Managers, the Tender and Information Agent, the trustees or any of their respective affiliates (x) makes any recommendation that holders of Notes tender or refrain from tendering all or any portion of the principal amount of their Notes, and no one has been authorized by any of them to make such a recommendation or (y) except as expressly set forth herein with respect to the Company, the Dealer Managers, the Tender and Information Agent or any of their respective affiliates, makes any representations or warranties. The trustees do not assume any responsibility for the accuracy or completeness of the information concerning the Company, its affiliates or the Notes contained herein or any failure by the Company to disclose events that may have occurred and may affect the significance or accuracy of that information. Holders of Notes must make their own decision as to whether to tender their Notes, and, if so, the principal amount of Notes as to which action is to be taken.

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 are being 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 (as defined in the Offer to Purchase), or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.


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