KNOXVILLE, TN, April 29 /CNW/ - Xinergy Corp., a wholly-owned subsidiary
of Xinergy Ltd. (TSX:XRG), a U.S. Central Appalachian producer of high
quality coal, announced today that it has priced $200,000,000 aggregate
principal amount of its 9.25% Senior Secured Notes due 2019 (the
"Notes") to be issued at par in a private offering that is exempt from
the registration requirements of the Securities Act of 1933, as amended
(the "Securities Act"). The Notes will be guaranteed on a senior
secured basis by Xinergy Ltd. and its existing and future material
subsidiaries (other than Xinergy Corp.) that are organized in the
United States or, subject to limited exceptions, Canada.
The Notes and the related guarantees are being offered in the United
States only to qualified institutional buyers in reliance on the
exemption from registration set forth in Rule 144A under the Securities
Act, and outside the United States to non-U.S. persons in reliance on
the exemption from registration set forth in Regulation S under the
Securities Act. The Notes and the related guarantees have not been
registered under the Securities Act, or the securities laws of any
state or other jurisdiction, and may not be offered or sold in the
United States without registration or an applicable exemption from
registration under the Securities Act and applicable state securities
laws, and may not be offered or sold outside the United States without
compliance with applicable foreign securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any
sales of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. This
notice is being issued pursuant to and in accordance with Rule 135(c)
under the Securities Act.
About Xinergy Ltd.
Headquartered in Knoxville, Tennessee, Xinergy Ltd., through its wholly
owned subsidiary, Xinergy Corp. and its subsidiaries, is engaged in
coal mining in eastern Kentucky and West Virginia. Currently, Xinergy
sells high quality coal to electric utilities and industrial companies
throughout the south-eastern United States. For more information,
please visit www.xinergycorp.com.
This release contains "forward-looking information" relating to offering
of the Notes. Forward-looking information should not be read as a
guarantee of future performance and will not necessarily be accurate
indications of the times at, or by which, that performance will be
achieved. There are several risks that could cause actual performance
to differ materially from those expressed in or suggested by the
forward-looking information which are more fully described in Xinergy
Ltd.'s filings with the Canadian Securities Administrators, including
its Annual Information Form for the year ended December 31, 2010,
available on SEDAR at www.sedar.com. You should not put undue reliance on any forward-looking information.
We assume no obligation to update forward-looking information, except
to the extent required by applicable securities laws.
SOURCE Xinergy Ltd.
For further information:
Chris Halouma, Director, Investor Relations
Michael R. Castle, Chief Financial Officer