Banking, finance, and taxes
NiSource Buying Back Debt (NI)
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NiSource Inc. (NYSE:NI) looks to be tendering some of its debt. The company announced a tender offer after yesterday’s close for up to $300 million of its 7.875% Notes due 2010. That’s not so unusual. The company is offering note holders exactly $1,000 for each $1,000 of principal. In fact, if note holders don’t deliver their notes by April 14th, they will receive only $970 for each $1,000 of principal. NiSource noted that the aggregate principal amount outstanding on the Notes is $932.43 million. The company’s shares are trading up slightly in early action this morning.
Paul Ausick
April 1, 2009
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