The Hockey Co. begins exchange offer for 11¼% '09 units

The Hockey Company (B2) said on Monday (Aug. 19) that along with its Sport Maska Inc. subsidiary, it had begun an offer to exchange up to $125 million of newly issued 11¼% senior secured note units due 2009 which have been registered with the Securities and Exchange Commission for unlimited public trading under the Securities Act of 1933, for a like amount of outstanding 11¼% senior secured note units due 2009, which had been sold in a private placement transaction with Jefferies & Co. Inc. as initial purchaser, that had been completed on April 3. At the time of that initial placement, The Hockey Co., a Montreal-based maker and marketer of hockey skates, sticks, and protective equipment and National Hockey League authentic and replica jerseys, and New Brunswick, Canada-based Sport Maska, entered into a Registration Rights Agreement under which they agreed to use their best efforts to cause a registration statement to become effective and complete an exchange offer within 30 business days after that.

The Hockey Co. and Sport Maska said the exchange offer - which was actually launched on Sunday (Aug. 18) - is scheduled to expire at 5 p.m. ET on Sept. 12, subject to possible extension. Units may be tendered to the exchange agent for the offer on or before the deadline through The Depository Trust Company using ATOP. Exchange units of the same class will be issued in exchange for an equal principal amount of outstanding units accepted in the exchange offer. Units may be tendered only in integral multiples of $1,000 and units tendered for exchange may be withdrawn prior to the expiration. The Bank of New York (call 212 815-5788) is the exchange agent.

Marsulex completes partial tender offer for 9 5/8% '08 notes

Marsulex Inc. (B3) said on Thursday (Aug. 15) that US$47.23 million aggregate principal amount of its outstanding 9 5/8% senior subordinated notes due 2008 was tendered in connection with its previously announced tender offer to purchase up to US$44.234 million of the notes. As previously announced, Marsulex will pay, on a pro-rata basis, the obligated aggregate offer of US$44.234 million aggregate principal amount of notes at a fixed price of US$1,000 per US$1,000 principal amount of notes plus accrued and unpaid interest. That offer expired as scheduled at 5 p.m. ET on Aug. 15, without extension. Marsulex expects to settle the offer and pay for the Notes on August 20, 2002.

AS PREVIOUSLY ANNOUNCED, Marsulex, a Toronto-based global provider of outsourced environmental compliance solutions, said on July 16 that it had begun an offer to purchase up to US$44.2 million principal amount of its outstanding 9 5/8% notes at a purchase price of par value plus accrued and unpaid interest up to, but not including, the date of payment. Marsulex said that the offer was being made under the terms of the notes' indenture as a result of the sale (on July 18, 2001) of the company's sulfur removal assets in eastern North America and of BCT Chemtrade Corporation, a subsidiary of the Marsulex, to Chemtrade Logistics Income Fund. Marsulex further said that If the aggregate amount of notes tendered were to exceed US$44.2 million, the company would purchase the tendered notes on a pro-rata basis. The company set 5 p.m., ET on Aug. 15 as the expiration deadline for the offer, subject to possible extension. It said that tendered notes could be withdrawn at any time prior to the close of business on the fifth business day preceding the expiration date of the offer (i.e., on Aug. 8). The depositary for the offer was Mellon Investor Services LLC (call 866 825-8876).

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