Coleman Cable accepts early tenders for 88.6% of 9 7/8% senior notes

By Jennifer Chiou

New York, Feb. 3 - Coleman Cable Inc. said it accepted early tenders for $199,429,000, or 88.6%, of its 9 7/8% senior notes due 2012 in the cash tender offer and consent solicitation for any and all of the securities.

The offer ends at 11:59 p.m. ET on Feb. 17. It began on Jan. 20.

Those who tendered prior to the consent deadline of 5 p.m. ET on Feb. 2 received $1,027.50 per $1,000 principal amount of notes, including a consent payment of $30.00.

The company said it funded the initial settlement using the proceeds from its private placement offering of $235 million of 9% senior notes due 2018.

Investors will also receive accrued interest.

Coleman also said it entered into a supplemental indenture after having received the needed consents for the notes.

The offer is subject to the minimum consent condition as well as a financing condition.

Bank of America Merrill Lynch (888 292-0070 or call collect 646 855-3401) and Wells Fargo Securities (866 309-6316 or call collect 704 715-8341) are the joint dealer managers and solicitation agents. Global Bondholder Services Corp. is the information agent (866 470-4500 or call collect 212 430-3774).

Coleman Cable is a Waukegan, Ill.-based designer, developer, manufacturer and supplier of electrical wire and cable products.

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