Interpool launches tender for 6% notes

By Jennifer Chiou

New York, June 13 - Interpool Inc. announced the start of a tender offer for all of its $230 million of 6% senior notes due 2014.

The Princeton, N.J., supplier of equipment and services to the transportation industry is also soliciting consents to amend the note indenture to, among other things, eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions contained in the indenture.

The company said it will pay $1,015.00 per $1,000 principal amount of notes, which includes at $20.00 consent payment for those who tender by 5 p.m. ET on June 26.

Interpool will also pay accrued interest up to the payment date.

The tender offer ends at 8 a.m. ET on July 19.

The company requires consents from holders of a majority of the notes, sufficient financing as well as the consummation of the merger of Interpool and Chariot Acquisition Sub, Inc., an indirect wholly owned subsidiary of funds managed by affiliates of Fortress Investment Group LLC.

The tender is not a condition of the merger.

The dealer manager is Bear, Stearns & Co. Inc. (877 696-BEAR or call collect 212 272-5112). The information agent is D.F. King & Co., Inc. (call collect 212 269-5550 or 800 628-8208).

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