TULSA, Okla.—Williams Partners LP (NYSE: WPZ) and ACMP Finance Corp. announced Feb. 26 that they have issued a notice of redemption to holders of the Issuers’ 4.875% senior notes due 2024, stating that the Issuers will redeem all of the outstanding notes for cash on March 28, 2018 at a redemption price equal to the sum of the principal amount of the notes plus the excess, if any, of (a) the present value at such time of (i) the redemption price of such note at March 15, 2019 (as set forth in the indenture governing the notes (the “indenture”)) plus (ii) any required interest payments due on such note through March 15, 2019 (except for currently accrued and unpaid interest), computed using a discount rate equal to the Treasury Rate (as defined in the Indenture) plus 50 basis points, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), over (b) the principal amount of such Note, plus accrued and unpaid interest, if any, to the Redemption Date. The Issuers will calculate the Treasury Rate no later than the second Business Day (as defined in the Indenture) preceding the Redemption Date.
The terms and conditions of the redemption are fully described in the Notice of Redemption. Beneficial holders with any questions about the redemption should contact their respective brokerage firm or financial institution.
Recommended Reading
US Drillers Add Oil, Gas Rigs for Second Week in a Row
2024-01-26 - The oil and gas rig count, an early indicator of future output, rose by one to 621 in the week to Jan. 26.
Second Light Oil Discovery in Mopane-1X Well
2024-01-26 - Galp Energia's Avo-2 target in the Mopane-1X well offshore Namibia delivers second significant column of light oil.
E&P Highlights: Jan. 29, 2024
2024-01-29 - Here’s a roundup of the latest E&P headlines, including activity at the Ichthys Field offshore Australia and new contract awards.
Seadrill Awarded $97.5 Million in Drillship Contracts
2024-01-30 - Seadrill will also resume management services for its West Auriga drillship earlier than anticipated.
Oceaneering Won $200MM in Manufactured Products Contracts in Q4 2023
2024-02-05 - The revenues from Oceaneering International’s manufactured products contracts range in value from less than $10 million to greater than $100 million.