Monday, RRI Energy Inc. (RRI) commenced a cash tender offer to purchase up to $150 million aggregate principal amount of the securities. Subject to applicable law, RRI may increase the Maximum Acceptance Amount in its sole discretion to no more than $250 million aggregate principal amount of securities.
The company noted that the purchase price will be determined in accordance with a modified Dutch auction procedure on the terms and conditions set forth in the Offer to Purchase dated September 21. The Tender Offer is scheduled to on October 19.
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