CAMDEN, N.Y.--(BUSINESS WIRE)-- International Wire Group, Inc. ("IWG") announced today that it has exercised the early settlement election applicable to its previously announced tender offer (the “Tender Offer”) for its existing 9.75% Senior Secured Notes due 2015 (the “Senior 2015 Notes”). IWG has accepted for purchase $56,854,255 aggregate principal amount of outstanding Senior 2015 Notes validly tendered at or before 5:00 p.m., New York City time on October 3, 2012 (the “Early Tender Date”) pursuant to the Tender Offer and will pay the total consideration of $1,052.81 per $1,000.00 principal amount of Senior 2015 Notes. The early settlement date is October 4, 2012. Withdrawal rights have expired for holders of the Senior 2015 Notes who tendered their Senior 2015 Notes before the Early Tender Date.
The Tender Offer will expire at 11:59 p.m. New York City time on Wednesday, October 17, 2012, unless extended or earlier terminated by IWG.
IWG also announced today that it has issued a notice of redemption for the remaining outstanding principal amount of the Senior 2015 Notes. On November 5, 2012, IWG will redeem the remaining principal amount of the Senior 2015 Notes at a redemption price equal to 104.875% of the aggregate principal amount of the Senior 2015 Notes, plus accrued and unpaid interest to, but excluding, the redemption date.
The complete terms and conditions of the Tender Offer are described in the Offer to Purchase and the related Letter of Transmittal. Persons with questions regarding the tender offer or who want to obtain additional copies of the Offer to Purchase and Letter of Transmittal should contact Morrow & Co., LLC at (203) 658-9400 (for banks and brokers) or (800) 607-0088 (for all others).
The Tender Offer is being made pursuant to the tender offer documents, including the Offer to Purchase and Letter of Transmittal that IWG distributed to holders of Senior 2015 Notes. The Tender Offer is not being made to holders of Senior 2015 Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. This press release contains information about pending transactions, and there can be no assurance that these transactions will be completed.
Forward-Looking Information is Subject to Risk and Uncertainty
This press release may include certain “forward-looking” statements. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words “believes,” “expects,” “may,” “will,” “would,” “should,” “seeks,” “pro forma,” “anticipates,” “intends,” “plans,” “estimates,” or the negative of any thereof or other variations thereof or comparable terminology, or by discussions of strategy or intentions. These statements are not guarantees of future actions or performance and involve risks, uncertainties and assumptions as to future events that may not prove to be accurate. Actual actions or results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Many important factors could cause our results to differ materially from those expressed in these forward-looking statements. These factors include, but are not limited to, general market conditions, national or global events affecting the capital markets, unforeseen developments in our business or industry or changes in law or regulations.
About International Wire Group, Inc.
International Wire Group, Inc. is a leading manufacturer and marketer of wire products, including bare, silver-plated, nickel-plated and tin-plated copper wire, engineered wire products and high performance conductors, for other wire suppliers, distributors and original equipment manufacturers. Our products include a broad spectrum of copper wire configurations and gauges with a variety of electrical and conductive characteristics, which enables us to offer customers a primary source for many of their wire and cable product requirements. Our products are utilized by a wide variety of customers, which then sell to a diverse array of end users across a wide range of end markets, primarily in the aerospace and defense, automotive/specialty vehicles, consumer and appliance, electronics and data communications, industrial/energy, medical electronics and medical device industries. We manufacture and distribute our products at 20 facilities located in the United States, Belgium, France, Italy and Poland.
International Wire Group, Inc.
Glenn J. Holler, 314-238-1322
Senior Vice President, Chief Financial Officer and Secretary
Source: International Wire Group, Inc.