Back to Media Room

News Releases

CILCORP Inc. Receives Required Consents in Connection With Tender Offer and Consent Solicitation

PEORIA, Ill., Nov. 18 /PRNewswire-FirstCall/ -- CILCORP Inc. ("CILCORP"), a wholly owned subsidiary of Ameren Corporation (NYSE: AEE), announced today that it has received consents from the holders of $208,984,000, or 99.25%, of its outstanding 9.375% senior bonds due 2029 (CUSIP No. 171794 AF7) (the "bonds"), as of 5:00 p.m. New York City time on November 17, 2009, the last date and time for holders to receive the total consideration (as defined below) (such date and time, the "consent date") under its previously announced cash tender offer (the "tender offer") for any and all of the outstanding bonds.

Concurrently with the tender offer, CILCORP is soliciting consents (the "consent solicitation") from the holders of the bonds to certain proposed amendments (the "proposed amendments") to the indenture governing the bonds (the "indenture"). The number of consents received on or prior to the consent date was sufficient to approve the adoption of the proposed amendments. Based on the consents received, CILCORP and the trustee under the indenture are expected to enter into a supplemental indenture to effect the proposed amendments, which would eliminate certain restrictive covenants in the indenture and the bonds. CILCORP and the trustee will enter into the supplemental indenture if and when the bonds are accepted for payment by CILCORP pursuant to the tender offer. The complete terms and conditions of the tender offer and the consent solicitation are set forth in an offer to purchase and consent solicitation statement dated November 6, 2009 ("offer to purchase") and the related letter of transmittal and consent.

The tender offer will expire at midnight, New York City time, on December 7, 2009, unless extended or earlier terminated (as so extended or earlier terminated, the "expiration date"). Bonds tendered after the consent date may not be withdrawn. The total consideration for each $1,000 principal amount of bonds validly tendered on or prior to the consent date, and not validly withdrawn, and which is accepted, is $1,210.00 (the "total consideration"), which includes a payment of $50.00 per $1,000 principal amount of such bonds tendered on or prior to the consent date (the "consent payment").

Holders who tender bonds after the consent date but before the expiration date will only be eligible to receive the total consideration less the consent payment.

Consummation of the tender offer and the consent solicitation is subject to a number of conditions, including the absence of certain adverse legal and market developments, as described in the offer to purchase. CILCORP has reserved the right to amend, extend, terminate, or waive any conditions to the tender offer and the consent solicitation at any time.

J.P. Morgan Securities Inc. is the Dealer Manager for the tender offer and the consent solicitation and may be contacted at 2128344802 (collect calls accepted) or toll free at 8668344666. Requests for documents may be directed to Global Bondholder Services Corporation, the Information Agent for the tender offer and the consent solicitation, at 2124303774 (collect calls accepted) or toll-free at 8668572200.

This press release does not constitute an offer or an invitation by CILCORP to participate in the tender offer or the consent solicitation in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction. The tender offer and the consent solicitation are only being made pursuant to the offer to purchase and the related letter of transmittal and consent.

CILCORP is an Ameren Corporation subsidiary that operates as a holding company for Central Illinois Light Company ("CILCO") and a merchant generation subsidiary. CILCO operates a rate-regulated electric transmission and distribution business, a merchant electric generation business (through its subsidiary, AmerenEnergy Resources Generating Company) and a rate-regulated natural gas transmission and distribution business in Illinois. CILCO supplies electric service to 214,000 customers and natural gas service to 216,000 customers in portions of central and east central Illinois. AmerenEnergy Resources Generating Company, a merchant generation wholly owned subsidiary of CILCO, owns 1,125 megawatts of coal-fired electric generating capacity and has 15 megawatts of oil-fired electric generating capacity.

SOURCE: Ameren Corporation

Web site: http://www.ameren.com/