8-KRegulation FDExhibits & Filings

WILLIAMS COMPANIES, INC. 8-K Report, Regulation FD Disclosure (Oct 28, 2004)

Filed October 28, 2004For Securities:WMB

Summary

Williams Companies, Inc. (WMB) filed an 8-K on October 28, 2004, to disclose information regarding the upcoming remarketing of its 6.50% Senior Notes due 2007. The company announced its intention to potentially purchase a portion of these notes during the remarketing event scheduled for November 10, 2004. This strategic move aims to retire a significant principal amount of the Senior Notes, specifically up to the lesser of approximately $222.8 million or all but $50.0 million of the notes available for remarketing. This action is significant for investors as it signals a potential reduction in the company's outstanding debt and could impact the overall financial structure. The remarketing process and Williams' participation are key events to monitor for holders of these Senior Notes and other stakeholders interested in the company's debt management strategy.

Key Highlights

  • 1Williams Companies, Inc. (WMB) announced plans for a remarketing of its 6.50% Senior Notes due 2007.
  • 2The remarketing event is scheduled to occur on November 10, 2004.
  • 3Williams may submit an order to purchase a portion of the Senior Notes during the remarketing.
  • 4The maximum principal amount Williams intends to purchase is the lesser of approximately $222.8 million or an amount representing all but $50.0 million of the notes available for remarketing.
  • 5Williams proposes to retire all Senior Notes it purchases in the remarketing.
  • 6The company issued a 'Notice of Reset Announcement and Remarketing' to holders of the Senior Notes.

Frequently Asked Questions

This 8-K filing serves as a Regulation FD disclosure to inform holders of Williams' 6.50% Senior Notes due 2007 about an upcoming remarketing event and Williams' intention to potentially repurchase a portion of these notes.

A remarketing is a process where existing debt securities are offered to new or existing investors, often when interest rates have changed or the issuer wants to adjust its debt structure. Williams is participating to potentially reduce its outstanding debt by repurchasing its Senior Notes.

Williams may purchase up to the lesser of approximately $222.8 million in aggregate principal amount of the Senior Notes or an amount representing all but $50.0 million of the notes available for remarketing. The company intends to retire any notes it purchases.

For investors holding these Senior Notes, this could mean a reduction in the total outstanding principal, potentially impacting liquidity and future interest payments on the remaining notes. For other stakeholders, it signals a proactive approach to debt management.