A banking syndicate Co-Arranged by J.P. Morgan Securities Inc. and Wachovia Capital Markets, LLC will finance the credit facility. Other agent titled roles include JPMorgan Chase Bank, N.A. as Administrative Agent, Wachovia Bank, National Association as Syndication Agent, and Bank of America, N.A., Deutsche Bank Securities Inc. and Wells Fargo Bank, National Association as Co-Documentation Agents. The facility was significantly oversubscribed and was syndicated to 26 banks.
Pioneer also announced today the final tender results for its previously announced offer to purchase its 5.875% Senior Notes due 2012 (CUSIP No. 299900 AD 2) (the "Notes").
As of 12:00 midnight, New York City time, on Thursday, September 29, 2005 (the "Expiration Date"), Pioneer had received tenders for $188.4 million in principal amount of the Notes (the "Tendered Notes") representing 96.9% of the outstanding principal amount of the Notes. Pioneer has accepted tenders of all Tendered Notes.
All of the Tendered Notes were tendered prior to 5:00 p.m., New York City time, on Thursday, September 15, 2005 (the "Consent Date"). Holders of Notes tendered prior to the Consent Date received a payment on September 20, 2005 of $1,061.15, including a $30 consent payment, for each $1,000 principal amount of Notes. No Notes were tendered after the Consent Date.
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