FirstEnergy Announces Total Consideration for Subsidiary Debt Tender Offers
Akron, OH, March 13, 2013 - FirstEnergy Corp. (NYSE: FE) announced the reference yield and the total consideration for each series of notes subject to the previously announced cash tender offers for up to $1,080,000,000 in aggregate principal amount of the respective debt securities listed in the table below (the "Notes") of FirstEnergy's subsidiaries, FirstEnergy Solutions Corp. ("FES") and Allegheny Energy Supply Company, LLC ("AE Supply" and together with FES, the "Companies").
The tender offers consist of four separate offers (each an "Offer," and collectively, the "Offers") on the terms set forth in the Offer to Purchase and related Letter of Transmittal, each dated February 28, 2013, with one Offer to purchase any and all outstanding 5.75% Notes due 2019 issued by AE Supply, a second Offer to purchase any and all outstanding 6.75% Notes due 2039 issued by AE Supply, a third Offer to purchase any and all outstanding 6.80% Senior Notes due 2039 issued by FES (each of the foregoing an "Any and All Offer"), and a fourth Offer to purchase up to the Maximum Tender Amount (as defined below) of the 6.05% Senior Notes due 2021 (the "6.05% Notes") issued by FES (the "Maximum Tender Offer"). Each Company is offering to purchase only those Notes issued by it.
The total consideration per $1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the Offers was determined in the manner described in the Offer to Purchase by reference to a fixed spread specified for the series over the yield based on the bid side price of the Reference U.S. Treasury Security specified in the table below. Holders who validly tender their Notes will also receive accrued and unpaid interest thereon up to, but excluding, the date of payment of the applicable consideration for such Notes accepted for purchase.
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For More Information Contact
Tricia Ingraham
Media Contact
FirstEnergy Corp.
+1-330-384-5247
www.firstenergycorp.com
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Irene Prezelj
Investor Contact
FirstEnergy Corp.
+1-330-384-3859
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