NEW YORK--(BUSINESS WIRE)--Macquarie Infrastructure Corporation (NYSE: MIC) today announced a tender offer to purchase any and all of its 2.00% Convertible Senior Notes due 2023. As of February 16, 2021, there was $402,500,000 aggregate principal amount of the Notes outstanding.
Upon the terms and subject to the conditions set forth in the Company’s Offer to Purchase dated February 17, 2021 (the “Offer to Purchase”), and the related Letter of Transmittal (the “Letter of Transmittal”), the Company is offering to pay, for cash, an amount equal to $1,000 for each $1,000 of principal amount of Notes purchased. Additionally, holders of the Notes that are validly tendered and not validly withdrawn at or prior to the Expiration Date (as defined below) and accepted for purchase will receive accrued and unpaid interest, if any, from the last interest payment date up to, but not including, the date the Company purchases such Notes. The Tender Offer will expire at 11:59 p.m., New York City time, on March 16, 2021, or any other date and time to which the Company extends such Tender Offer (such date and time, as it may be extended, the “Expiration Date”), unless earlier terminated.
The Tender Offer is not conditioned upon a minimum amount of Notes tendered but is subject to the satisfaction or waiver of certain conditions, as more fully described in the Offer to Purchase. The Company expressly reserves the right, in its sole discretion, subject to applicable law, to extend, withdraw, terminate or amend the Tender Offer. All Notes validly tendered and accepted for purchase in the Tender Offer will be retired and canceled.
For Notes that have been validly tendered and not validly withdrawn at or prior to the Expiration Date and that are accepted for purchase pursuant to the Tender Offer, settlement will occur promptly following the Expiration Date, assuming that the conditions to the Tender Offer have been either satisfied or waived by the Company as further described in the Offer to Purchase. The Company expects to fund purchases of Notes validly tendered in the Tender Offer and accepted for purchase with cash on hand.
