Altra starts tender offer for 9% senior secured notes due 2011

New York, Nov. 10 - Altra Holdings, Inc. said its Altra Industrial Motion, Inc. subsidiary began a cash tender offer for all its $205.3 million of 9% senior secured notes due 2011.

The company will pay $1,025 per $1,000 principal amount for notes tendered by the early tender deadline of 5 p.m. ET on Nov. 24. The total includes a $25 per $1,000 early tender premium.

After that time, the payment will be par.

The tender ends at midnight ET on Dec. 9.

Holders who tender by the early tender deadline will be agreeing to waive any rights to a written notice of redemption.

Altra will also pay accrued interest up to but excluding the payment date.

If Altra receives the necessary waiver of rights to a written notice of redemption, it will deliver a notice of redemption and waiver for any notes still outstanding after the early tender deadline and redeem them as soon as possible after the tender is completed.

The offer is subject to a conditions including that Altra receive at least $200 million from the sale of senior notes.

Jefferies & Co., Inc. (888 708-5831 or call collect 203 708-5831) and Banc of America Securities LLC are dealer managers, D. F. King & Co., Inc. is information agent (800 290-6427). Bank of New York Mellon Trust Co., NA is depositary.

Altra is a Braintree, Mass., maker of electromechanical power transmission products.

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