TriMas Corp. today (Dec. 29) announced, as of 5 p.m., EST, on Dec.28, it had received tenders and certain-related consents discussed below from holders of $245,626,000 in aggregate principal amount of its 9-7/8% Senior Subordinated Notes due 2012, representing approximately 95.75% of the outstanding notes.
As a result of the receipt of the requisite consents, the issuer has entered into a supplemental indenture with the trustee effecting the proposed amendments to the indenture governing the notes. The proposed amendments eliminate substantially all of the restrictive covenants and certain default provisions under the indenture governing the notes, according to a news release from the Bloomfield Hills, Mich.-based manufacturer.
In accordance with the terms of the tender offer and consent solicitation, the issuer is hereby extending the withdrawal deadline to 11:59 p.m.EST on Jan. 12. As a result, any holder of notes who validly tenders notes after the consent date may withdraw such tender through 11:59 p.m.EST on Jan. 12 in accordance with the procedures described in the tender offer documents under the caption “Withdrawal of Tenders.”
Holders who did not tender their notes by the consent date may tender until 11:59 p.m.EST on Jan. 12, unless extended by the issuer at the tender price of $970.25 for every $1,000 of principal amount of notes, plus accrued and unpaid interest. Holders who tender notes after the consent date will not receive the consent payment. Full details of the terms and conditions of the tender offer are set forth in the tender offer Documents.
TriMas is simultaneously announcing that it is irrevocably calling for redemption of all notes that remain outstanding after the consent date at the redemption price of $1,016.46 for every $1,000 of principal amount of notes, plus accrued and unpaid interest.
TriMas has engaged Credit Suisse Securities (USA) LLC to act as dealer manager in connection with the tender offer and solicitation agent in connection with the consent solicitation. Questions regarding the tender offer or consent solicitation may be directed to Credit Suisse Securities (USA) LLC at (212) 538-1862 (collect) or (800) 820-1653.
MacKenzie Partners Inc. is acting as the information agent for the tender offer and consent solicitation. Requests for documents related to the tender offer and consent solicitation may be directed to (212) 929-5500 (collect) or (800) 322-2885. Beneficial owners also may contact their broker, dealer, commercial bank, trust company or other nominee for assistance concerning the tender offer and the consent solicitation.