Sifco tenders for any and all $75 million 11½% secured notes due 2016

By Jennifer Chiou

New York, Oct. 22 - Sifco Capital Luxembourg SA announced the launch of its cash tender offer for any and all of the $75 million of 11½% senior secured notes due 2016 issued by parent company Sifco SA.

The company is also soliciting consents to amend the note indenture to eliminate substantially all of the restrictive covenants and certain events of default and related provisions.

The offer will end at 11 a.m. ET on Nov. 20.

For each $1,000 principal amount, Sifco will pay a total consideration of $960, including a $40.00 early tender premium for those who tender and deliver consent by 11 a.m. ET on Nov. 2.

Participating holders will also receive accrued interest.

The offer is conditioned on the completion of a new notes offering.

The dealer managers are Goldman, Sachs & Co. (800 828-3182 or call collect 212 902-5183), Citigroup Global Markets Inc. (800 558-3745 or call collect 212 723-6106) and PINE Securities USA LLC (646 398-6900). D.F. King Worldwide Inc. is the tender agent and information agent (800 549-6746 or call collect 212 269-5550/44 20 7920 9700).

Based in Sao Paulo, Brazil, Sifco SA is a manufacturer of forged components for several segments of the foreign and domestic automotive industry.

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