SM Energy Co. (NYSE: SM) has reported the final results of its tender offer and consent solicitation that began on May 7 for its 6.625% senior notes due 2019 (CUSIP: 78454LAB6).
The offer expired at 11:59 p.m., New York City time, on June 4. An aggregate of $244,447,000, representing 69.84% of the principal amount of the notes outstanding, has been validly tendered and not withdrawn as of the expiration date. The company funded the consideration paid to the tendering holders of the notes using proceeds from its issuance of $500 million in 5.625% senior notes due 2025, which closed on May 21.
The trustee for the notes issued an irrevocable notice of redemption notifying holders of any remaining notes that, on June 22, the company will redeem all of the notes that remain outstanding following the offer under the terms of the related indenture.