Pattern Energy Group Inc. Announces Consent Solicitation to the Holders of its 5.875% Senior Notes Due 2024
The Consent Solicitation offers important benefits to the holders and seeks to amend the indenture, dated as of
The Consent Solicitation is conditioned upon (i) the consent (the "Consent") of the holders of at least a majority in aggregate principal amount of the outstanding Notes and (ii) the other conditions contained in the Consent Solicitation Statement (as defined below). The complete terms of the Consent Solicitation are described in the Consent Solicitation Statement, and holders of the Notes are urged to read the Consent Solicitation Statement in full.
If the Requisite Consents (as defined below) are received, the Company expects to make certain other voluntary amendments to the Indenture for the benefit of holders. These amendments would (among other things): (1) revise the definition of "Change of Control" so that a change of control with respect to Pattern Operations will trigger the obligations of the Company under the Indenture, (2) revise the liens covenant to provide that Pattern Operations will be subject to such covenant and (3) revise the Events of Default provision so that certain clauses also apply to Pattern Operations.
The Consent Solicitation will expire at
If the Amendments are approved, the Amendments will be binding on all holders of the Notes, including those that did not deliver their Consent, and only holders validly delivering their Consent on or prior to the Expiration Time will receive the consent fee.
The Company has retained
None of the Company, solicitation agent or the information and tabulation agent make any recommendations as to whether holders should deliver Consents pursuant to the consent solicitation, and no one has been authorized by any of them to make such a recommendation. Holders must make their own decisions as to whether to deliver consents.
This press release is for informational purposes only and is not a solicitation of consent with respect to the Notes or any other securities. The consent solicitation is being made solely pursuant to the consent solicitation statement, which sets forth the complete terms of the consent solicitation.
About Pattern Energy Group Inc.
Pattern Energy Group Inc. is the majority owner of
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws, including statements regarding, the ability of the Company to advance its mission to bring renewable energy to communities, the ability of the Company to grow by capturing opportunities presented by demand for low-carbon energy, and similar statements. These forward-looking statements represent the Company's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company's control, which could cause actual results to differ materially from the results discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Company's annual report on Form 10-K and any quarterly reports on Form 10-Q. The risk factors and other factors noted therein could cause actual events or the Company's actual results to differ materially from those contained in any forward-looking statement.
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SOURCE Pattern Energy Group Inc.