RRI Energy, Inc. (RRI) Monday said it increased the "Maximum Acceptance Amount" for its previously announced cash tender offer to buy its outstanding 6.75% Senior Secured Notes due 2014 and Pennsylvania Economic Development Financing Authority's outstanding Exempt Facilities Revenue Bonds Series 2001A, 2002A, 2002B, 2003A and 2004A. As contemplated in the Offer to Purchase dated September 21, 2009, as supplemented, RRI increased the Maximum Acceptance Amount to $200 million aggregate principal amount of Notes and Bonds and is now offering to purchase up to that aggregate principal amount of Notes and Bonds on the terms and conditions set forth in the Offer to Purchase.
RRI also said it extended the "Early Participation Deadline" for the Tender Offer to October 19, 2009, which is the expiration time of the Tender Offer. The Early Participation Deadline was previously set to be October 5, 2009. Holders of Notes or Bonds who validly tender their Notes or Bonds at or prior to the Early Participation Deadline would be eligible to receive the applicable "Total Consideration," which includes an early participation payment of $20 per $1,000 principal amount of Notes or Bonds tendered and accepted for purchase in the Tender Offer.
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