Interface extends consent date in exchange offer for 10 3/8% notes

By Susanna Moon

Chicago, Dec. 16 - Interface Inc. said it again delayed the consent deadline in the private offer to issue new 13½% senior notes due 2012 and cash in exchange for $152.59 million principal amount of its 10 3/8% senior notes due 2010.

The consent deadline is now 5 p.m. ET on Dec. 19, pushed back from Dec. 15 and, before that, Dec. 9.

The offer will end at midnight ET on Dec. 23. It began on Nov. 25.

Interface is offering $306 in cash and $700 principal amount of replacement 13½% notes for each $1,000 principal amount of the 10 3/8% notes. The cash payment includes a $20.00 consent fee for holders who tender their notes by the consent deadline.

Holders who tender their notes will be required to consent to the proposed amendment.

The exchange offer will be conditioned on the receipt of more than $76.29 million principal amount of the 10 3/8% notes.

The proposed amendment requires consents from holders of a majority of the 10 3/8% notes.

The offering is being made only to qualified institutional buyers and some non-U.S. investors.

Interface is an Atlanta-based floor coverings and fabrics company.

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