Argo-Tech tenders for 8 5/8% notes

New York, May 18 - Argo-Tech Corp. said it has begun a tender offer for any and all of its $195 million outstanding principal amount of 8 5/8% senior subordinated notes due 2007.

The Cleveland manufacturer of fuel flow devices is also soliciting consents to amend the note indentures.

Argo-Tech is offering $1,026.25 per $1,000 principal amount for the notes plus accrued interest up to but not including the payment date.

The tender ends at midnight ET on June 16.

Holders who tender and deliver consents by the consent deadline of 5 p.m. ET on June 3 will also receive a $2.50 per $1,000 principal amount consent payment for a total of $1,028.75 per $1,000 principal amount.

Noteholders who tender will be required to consent and vice versa.

The offer is subject to various conditions including completion of planned refinancing transactions and the receipt of the necessary consents to amend the note indenture.

J.P. Morgan Securities Inc. is dealer manager and solicitation agent (contact Brian Tramontozzi at 800 245-8812 or 212 270-9153). BNY Midwest Trust Co. is the depositary and D.F. King & Co. Inc. is the information agent (800 269-6427).

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