Watco Companies LLC - Tender Offer 2024 (US) - Pricing

WATCO COMPANIES, L.L.C. ANNOUNCES PRICING OF CASH TENDER OFFER FOR ANY AND ALL OF ITS OUTSTANDING 6.500% SENIOR NOTES DUE 2027

17 JULY 2024

Full announcement including disclaimers and offer restrictions available via Prnewswire: Source: Watco Companies LLC

PITTSBURG, Kan., July 17, 2024 /PRNewswire/ -- Watco Companies, L.L.C. and its wholly-owned subsidiary, Watco Finance Corp. (collectively, the "Company"), today announced the pricing of its cash tender offer to purchase (the "Offer") any and all of the outstanding 6.500% Senior Notes due 2027 (the "2027 Notes") on the terms set forth in the table below. The table below sets forth the applicable Reference Yield and Consideration for the 2027 Notes, as calculated at 11:00 a.m., New York City time, today, July 17, 2024, in accordance with the Offer to Purchase.

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WATCO COMPANIES, L.L.C. ANNOUNCES A CASH TENDER OFFER FOR ANY AND ALL OF ITS OUTSTANDING 6.500% SENIOR NOTES DUE 2027

08 JULY 2024

Full announcement including disclaimers and offer restrictions available via Prnewswire: Source: Watco Companies LLC

PITTSBURG, Kan., July 8, 2024 /PRNewswire/ -- Watco Companies, L.L.C. and its wholly-owned subsidiary, Watco Finance Corp. (collectively, the "Company"), today announced that it has commenced a cash tender offer to purchase (the "Offer") any and all of the outstanding 6.500% Senior Notes due 2027 (the "2027 Notes") as set forth in the table below.

(1) No representation is made as to the correctness or accuracy of the CUSIP numbers listed in this press release or printed on the 2027 Notes. It is provided solely for the convenience of Holders of the Notes.(2) The consideration (the "Consideration") payable per $1,000 principal amount of 2027 Notes validly tendered and accepted for purchase will be based on the fixed spread specified in the table above (the "Fixed Spread"), plus the yield to maturity of the U.S. Treasury Reference Security (the "Reference Yield") based on the bid-side price of the U.S. Treasury Reference Security specified above (the "Reference Page") at 11:00 a.m., New York City time, on July 17, 2024 (such date as it may be extended, the "Price Determination Date"). The sum of the Fixed Spread and the Reference Yield is referred to as the "Repurchase Yield." The Consideration does not include Accrued Interest (as defined in the Offer to Purchase), which will be paid on 2027 Notes accepted for purchase by the Company as described herein. The formula for determining the Consideration and Accrued Interest is set forth on Annex A of the Offer to Purchase (as defined below).

The Offer is being made solely pursuant to the terms and conditions set forth in an Offer to Purchase, dated July 8, 2024 (the "Offer to Purchase"). Holders of the 2027 Notes are urged to carefully read the Offer to Purchase before making any decision with respect to the Offer. There is no letter of transmittal for the Offer. The Offer is not conditioned on any minimum amount of the 2027 Notes being tendered. Subject to applicable law, the Company may amend, extend or terminate the Offer in its sole discretion. Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase."

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