Enogex Offers Up to $150 Million

OGE Energy Corp. said that its midstream pipeline subsidiary, Enogex LLC, has commenced a cash tender offer for up to $150 million principal amount of its 8.125 percent senior notes due in January.
The tender offer for the 8.125 percent senior notes due 2010 will expire at 10:59 p.m. CDT on July 22, unless extended or earlier terminated by Enogex (such time, as it may be extended, the “expiration time”).
The total consideration per $1,000 principal amount of the 8.125 percent senior notes due 2010 validly tendered and not withdrawn at or prior to 4 p.m. CDT on July 8, (the “early tender time”) will be $1,027.50, which includes an early tender payment of $25 per $1,000 principal amount of 8.125 percent senior notes due 2010.
The early tender payment is payable only to holders of the 8.125 percent senior notes due 2010 who validly tender and do not validly withdraw their notes at or prior to the early tender time, provided such notes are accepted for purchase by Enogex. Holders who validly tender their 8.125 percent senior notes due 2010 after the early tender time but at or prior to the expiration time will be entitled to receive $1,002.50 per $1,000 principal amount of the notes, provided such notes are accepted for purchase by Enogex.



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