Alliance Laundry says 99.54% of 8½% notes were tendered by early date

By Devika Patel

Knoxville, Tenn., Sept. 30 - Alliance Laundry Systems LLC said $149.32 million, or 99.54%, of its 8½% senior subordinated notes due 2013 were tendered as of 5 p.m. ET on Sept. 29, the early acceptance date, as part of the company's cash tender offer and consent solicitation for the notes. It paid for the notes Thursday.

Holders who tendered their notes received $1,027.50 for each $1,000 in notes, which included a consent payment of $25.00 per $1,000 of notes, plus any unpaid interest up to, but not including, the payment date of Sept. 30.

The offer will remain open until 8 a.m. ET on Oct. 7. It launched on Sept. 9.

Bank of America Merrill Lynch (888 292-0070 or collect 980 388-9217) is the dealer manager and solicitation agent. Georgeson Inc. (866 628-6021 or collect 212 440-9800) is the information agent.

The company used the proceeds from its term loan borrowings under a credit agreement to help fund the tender.

The issuer is a manufacturer of commercial laundry products based in Ripon, Wis.

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