FirstEnergy Transmission, LLC, a subsidiary of FirstEnergy Corp., has announced an exchange offer for its senior notes. The company is offering to exchange up to $400 million in aggregate principal amount of its outstanding 4.550% Senior Notes due 2030 and up to $400 million in aggregate principal amount of its outstanding 5.000% Senior Notes due 2035. These will be exchanged for an equal amount of new notes registered under the Securities Act of 1933.
The offer will expire at 5:00 p.m., New York City time, on January 24, 2025, unless extended. Tenders must be made before this deadline and can be withdrawn any time prior to expiration. This exchange is being conducted to meet obligations under a registration rights agreement linked to the original issuance of these notes and does not constitute a new financing transaction.
The terms are detailed in a prospectus dated December 23, 2024. Copies can be obtained from U.S. Bank Trust Company, National Association, which serves as the exchange agent.
"This press release is for informational purposes only and is neither an offer to buy or sell nor a solicitation of an offer to buy or sell any Outstanding Notes or New Notes," states the company. The exchange offer is being made solely through the prospectus filed with the Securities and Exchange Commission as part of the company's Registration Statement on Form S-4.
FirstEnergy emphasizes its commitment to "integrity, safety, reliability and operational excellence." Its subsidiaries operate approximately 24,000 miles of transmission lines across several states.
Statements about FirstEnergy Transmission that are not historical facts are considered "forward-looking statements" subject to risks and uncertainties that could cause actual results to differ materially from those expected. The company advises consulting its SEC filings for more information on these risks.
For further details, media inquiries can be directed to Tricia Ingraham at (330) 384-5247, while investor queries should go to Karen Sagot at (330) 761-4286.