Samsonite tenders for 10¾% notes

New York, April 30 - Samsonite Corp. said it has begun a tender offer and consent solicitation for any and all of its $322.861 million 10¾% senior subordinated notes due 2008.

Holders who tender before the consent deadline of midnight ET on May 13 will receive $1,042.33 per $1,000 principal amount including a $20.00 per $1,000 consent payment.

Holders who tender after that deadline but before the expiration of midnight ET on May 27 will receive $1,022.33 per $1,000 principal amount.

Samsonite will also pay accrued interest up to but not including the date of payment.

Holders who tender will be deemed to have delivered consents.

The consent solicitation is to amend the note indentures to eliminate certain covenants and certain provisions relating to events of default and amend certain other related provisions.

The Denver luggage maker said the offer is subject to conditions including Samsonite having available funds raised in an offering of $325 million of new notes.

Deutsche Bank Securities Inc. (call collect 212 240-4270) and Merrill Lynch & Co. (212 449-4914 or 888 385-2663) are dealer managers for the offer to purchase and solicitation agents for the consent solicitation. D.F. King & Co., Inc. is the information agent (800 669-5550).

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