FAIRMONT, W.Va., Dec. 23,
2024 /PRNewswire/ -- FirstEnergy Transmission, LLC
("FET" or the "Company"), a subsidiary of FirstEnergy Corp. and a
holding company of electric transmission companies operating in
Ohio, Pennsylvania, West
Virginia, Maryland and
Virginia, today announced an offer
to exchange (i) up to $400 million
aggregate principal amount of its outstanding 4.550% Senior Notes
due 2030 (the "Outstanding 2030 Notes") for an equal amount of
4.550% Senior Notes due 2030 registered under the Securities Act of
1933, as amended (the "Securities Act") (the "New 2030
Notes") and (ii) up to $400
million aggregate principal amount of its outstanding 5.000%
Senior Notes due 2035 (the "Outstanding 2035 Notes" and together
with the Outstanding 2030 Notes, the "Outstanding Notes") for an
equal amount of 5.000% Senior Notes due 2035 registered under the
Securities Act (the "New 2035 Notes" and together with the New 2030
Notes, the "New Notes").
The exchange offer will expire at 5:00
p.m., New York City time,
on Jan. 24, 2025, unless extended.
Tenders of Outstanding Notes must be made before the exchange offer
expires and may be withdrawn any time prior to the expiration of
the exchange offer. The exchange offer is being made to satisfy the
Company's obligations under a registration rights agreement entered
into in connection with the issuance of the Outstanding Notes and
does not represent a new financing transaction.
The terms of the exchange offer are set forth in a prospectus
dated Dec. 23, 2024. Copies of the
prospectus and the other exchange offer documents may be obtained
from the exchange agent:
U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION
By Mail or in Person
U.S. Bank Trust Company, National
Association
Attn: Corporate Actions
111 Fillmore Avenue
St. Paul, MN 55107-1402
For Email or Facsimile Transmission (for Eligible Institutions
Only)
Email: cts.specfinance@usbank.com
Facsimile: (651) 466-7367
For Information and to Confirm by Telephone
(800)
934-6802
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. The exchange offer
is being made only pursuant to the exchange offer prospectus, which
is being distributed to holders of the Outstanding Notes and has
been filed with the Securities and Exchange Commission as part of
the Company's Registration Statement on Form S-4 (File No.
333-282554), which was declared effective on Dec. 20, 2024.
FirstEnergy is dedicated to integrity, safety, reliability and
operational excellence. Its electric distribution companies form
one of the nation's largest investor-owned electric systems,
serving more than six million customers in Ohio, Pennsylvania, New
Jersey, West Virginia,
Maryland and New York. The company's transmission
subsidiaries operate approximately 24,000 miles of transmission
lines that connect the Midwest and Mid-Atlantic regions. Follow
FirstEnergy online at www.firstenergycorp.com and on
X @FirstEnergyCorp.
Discussion of Forward-Looking Statements About FET
Statements in this document regarding FET that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements. These
include statements about the Company's business, results, financial
position, liquidity, and outlook, which may constitute
forward-looking statements and are subject to the risk that the
actual impact may differ, possibly materially, from what is
currently expected. Except as required by law, FET undertakes no
obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see FET's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
and Cautionary Note Regarding Forward-Looking Statements set forth
in these filings and any updates to such risk factors and
Cautionary Note Regarding Forward-Looking Statements contained in
any subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE FirstEnergy Corp.