Altria Group Inc (NYSE:MO) Announces Notes Tender Expiration

Altria Group Inc (NYSE:MO) on March 6, 2015 announced that the cash tender it recently announced has expired. The company that is a holding company and has units such as wine, smokeless products and smoke able products announced the cash tender for its unsecured senior notes 9.700% that was to expire in 2018. In an offer to purchase dated February 26, 2015, Altria Group Inc (NYSE:MO) described the terms and conditions of the offer of the tender and the correspondent Letter of Transmittal and the Notice of Guaranteed Delivery.

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On March 4, 2015, the tender offer for the Notes expired. The Depositary and Information Agent for the tender, Global Bondholder Services Corporation, emanated that the aggregate principal amount of the Notes amounted to $792.538 million. Additionally, they noted that before the expiration deadline the notes were validly tendered. The notes that were not validly withdrawn including the $81,000 aggregate principal of the notes outstanding are still subject to proper guaranteed delivery procedures.

Altria Group Inc (NYSE:MO) intends to consent for the buying of all valid notes tendered and were not withdrawn validly before the deadline or at that time. Additionally the terms of the tender offer have been met. As a result, the company fully anticipates payments for the notes purchased including those delivered in agreement with the guaranteed delivery procedures. This is expected to be done on March 9, 2015.

Additionally for those holders that ad notes bought during the tender offer can expect to be paid unpaid and accumulated interest on the notes purchased dating back to the last interest payment date. However, this does not include the date of payment for those notes bought.

The Dealers of the tender offer included Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Barclays Capital Inc., and J.P. Morgan Securities LLC. For those investors that may have queries, they can call the Information Agent and Depositary; Global Bondholder Services Corporation at (212) 430-3774 (collect).

John Eisler

John Eisler

John is a special projects and general assignment reporter, noted for breaking several exclusive stories.