Summary
Williams Companies, Inc. (WMB) filed an 8-K on August 17, 2004, to report on the results of its cash tender offer and consent solicitation for its 8 5/8 percent Senior Notes due 2010. The company announced that approximately $513 million aggregate principal amount of these notes were validly tendered. This tender amount includes sufficient consents to approve significant amendments to the indenture governing these notes.
Key Highlights
- 1Williams Companies successfully tendered approximately $513 million in aggregate principal amount of its 8 5/8 percent Senior Notes due 2010.
- 2The tender offer also included a consent solicitation to amend the indenture governing these notes.
- 3Sufficient consents were obtained to approve amendments that will eliminate substantially all restrictive covenants and certain events of default.
- 4A Tenth Supplemental Indenture will be executed to incorporate these amendments.
- 5The amendments will become effective upon the successful consummation of the tender offer.
- 6The company issued a press release on August 17, 2004, detailing these events, which is included as an exhibit.