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May 15, 2006
Edison Mission Group (EMG) announced today that its indirect subsidiary, Edison Mission Energy (EME), plans to offer $1 billion aggregate principal amount of its Senior Notes in a private offering pursuant to Rule 144A and Regulation S under the Securities Act of 1933. The offering of the Senior Notes, which is subject to market and other conditions, will be made within the United States only to qualified institutional buyers, and outside the United States to non-U.S. investors (as defined for purposes of Regulation S).
EME intends to use the net proceeds of the offering, together with cash on hand, to consummate its previously announced cash tender offer and consent solicitation for all $400,000,000 of its outstanding 10% Senior Notes due August 15, 2008, and all $600,000,000 of its outstanding 9.875% Senior Notes due April 15, 2011.
The Senior Notes will not be registered under the Securities Act or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.
This announcement is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the Senior Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom. EME is a subsidiary of EMG, which is the parent company of the unregulated subsidiaries of Rosemead, California-based Edison International.
This release includes forward-looking statements. EME has based these forward-looking statements on its current expectations and projections about future events based upon knowledge of facts as of the date of this release and its assumptions about future events. These forward-looking statements are subject to various risks and uncertainties that may be outside EME’s control. EME has no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This release should be read in conjunction with EME’s Annual Report on Form 10-K, Amendment No. 1 to Annual Report on Form 10-K/A, Quarterly Report on Form 10-Q and Current Report on Form 8-K dated May 8 filed this calendar year.
EMG Announces $1 Billion Offer of Senior Notes by Its EME Unit
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