NCIG Announces Expiration of Tender Offer for 4.400% Secured Notes Due 2027

Newcastle Coal Infrastructure Group Pty Ltd (NCIG) announced on September 23 the expiration of its previously announced cash tender offer for any and all of its outstanding 4.400% Guaranteed Senior Secured Notes due 2027.

The offer, which commenced on September 8, expired on September 23, allowing the company to repurchase the notes with cash. NCIG expects to accept all notes validly tendered and not withdrawn. The consideration for the tendered notes is set at $993.11 per $1,000 original principal amount, plus accrued interest.

Of the $400.1 million aggregate principal amount of notes outstanding, $248.5 million had been tendered by the expiration date. The company anticipates the settlement date for the purchased notes to be September 28.

The tender offer was managed by Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC, with Global Bondholder Services Corporation acting as the tender and information agent. NCIG reserves the right to waive certain conditions, extend, or terminate the offer as permitted by law.