International Wire Group Announces Closing of Senior Secured Note Offering

CAMDEN, N.Y.--(BUSINESS WIRE)-- International Wire Group, Inc. ("IWG") announced today that it has completed the offering of $250.0 million of its 8.500% Senior Secured Notes due 2017 (the “Notes”).

The Notes will pay interest semi-annually on April 15 and October 15, beginning on April 15, 2013. The Notes are guaranteed on a senior secured basis by each of IWG’s existing and certain of its future domestic subsidiaries. The Notes and the guarantees are secured, subject to certain exceptions and permitted liens, on a second-priority basis by a lien on the assets of IWG and the guarantors that secure borrowings under IWG’s revolving credit facility.

IWG will use the net proceeds of the offering, together with advances under its revolving credit facility, to (1) repurchase or redeem all of its outstanding 9.75% Secured Senior Notes due 2015, (2) fund the redemption of all of the outstanding 11.50%/12.25% Senior PIK Toggle Notes due 2015 issued by IWG’s parent company, International Wire Group Holdings, Inc. (“Holdings”), (3) fund a special distribution of $60 million to Holdings, which will be used by Holdings to repurchase shares of Holdings’ common stock in the open market, through negotiated transactions or otherwise (the “Stock Repurchase”) and/or to make a distribution to its stockholders and option holders (the “Distribution”) and (4) pay related premiums, fees and expenses.

The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws and may not be offered or sold in the United States or for the account or benefit of any United States citizen or in any way distributed in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act.

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 we may be unable to complete the Stock Repurchase and/or the Distribution. 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 governing our ability to complete the Stock Repurchase and/or the Distribution.

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.