Allison Transmission tenders for any and all 11¼% toggle notes

By Jennifer Chiou

New York, April 15 - Allison Transmission, Inc. announced the start of a cash tender offer for any and all of its $505,327,440 of 11¼% senior toggle notes due 2015.

For each $1,000 principal amount, the company will pay $1,107.50, including a $30.00 early payment for those who tender by 5 p.m. ET on April 26.

Allison will also pay accrued interest to the settlement date.

The offer is set to end at midnight ET on May 12.

Withdrawal rights will cease at the early deadline, and an early settlement date is expected. Final settlement will occur on May 13.

The offer is conditioned on financing but does not have a minimum tender requirement.

The Indianapolis-based automatic transmissions company said it intends to redeem or repurchase any untendered notes, if any, after the offer.

Citigroup Global Markets Inc., Barclays Capital, Deutsche Bank Securities and UBS Securities LLC are the dealer managers. Global Bondholder Services Corp. is the depositary and information agent (866 389-1500 or 212 430-3774).

Questions may be directed to Citigroup at 800 558-3745 or collect at 212 723-6106; Barclays Capital at 800 438-3242 or collect at 212 528-7581; Deutsche Bank at 855 287-1922 or collect at 212 250-7527; or UBS at 888 719-4210 or collect at 203 719-4210.

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