Issuer Free Writing Prospectus
Relating to Registration Statement No. 333-162749
Filed Pursuant to Rule 433
December 16, 2009
STATEMENT REGARDING THIS FREE WRITING PROSPECTUS:
MP Environmental Funding LLC (the “Issuer”) has filed a Registration Statement on Form S-1, as amended (the “Registration Statement”) (File No. 333-162749), with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in the Registration Statement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offerings will arrange to send you the prospectus if you request it by calling 201-761-7610.
MP ENVIRONMENTAL FUNDING LLC
PRICING TERM SHEET
$64,440,000
Senior Secured ROC Bonds, Environmental Control Series B
Principal Amount Offered ($MM) | Expected Average Life (years) | Final Maturity Date | No. of Sinking Fund Payments | Treasury Spread | Yield | Coupon | Price to Public | |||||||
$64,380,000 | 9.02 | January 15, 2031 | 5 | 0.62% | 5.127% | 5.127% | 100% |
Underwriter:Jefferies & Company (sole book-running manager); The Williams Capital Group, L.P. (co-manager).
Ratings (Moody’s/S&P/Fitch):Aaa/AAA/AAA.*
* A security rating is not a recommendation to buy, sell, or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization.
Expected Settlement:December 23, 2009, flat. We expect that delivery of the Senior Secured ROC Bonds, Environmental Control Series B (the “Bonds”) will be made to investors on or about December 23, 2009 (such settlement being referred to as “T+5”). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in three business days (such settlement referred to as “T+3”), unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Bonds on the date of pricing or on the next business day will be required, by virtue of the fact that the Bonds initially will settle at T+5, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed
settlement. Purchasers of the Bonds who wish to trade the Bonds on the date of pricing or the next business day should consult their advisors.
Timing: Priced.
EXPECTED SINKING FUND SCHEDULE
Payment Date | Principal Payments | |
1/15/2028 | $11,187,658 | |
7/15/2028 | $14,788,917 | |
1/15/2029 | $14,558,763 | |
7/15/2029 | $15,396,377 | |
1/15/2030 | $8,448,286 |
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