Royal Group receives tenders for more than 66.66% of 7.1% notes

By Laura Lutz

Des Moines, Sept. 13 - Royal Group Technologies Ltd. announced that it received tenders from holders of more than two-thirds of its series D senior unsecured 7.1% notes due 2007 in a tender offer and consent solicitation that began on Aug. 28.

The total consideration for each $1,000 principal amount of the notes tendered will be $1,018.60 plus accrued interest through the date of payment.

The consents it has received will allow Royal Group to amend some terms of the purchase agreement under which the notes were sold. The amendments will go into effect when the company accepts the tendered notes for payment.

The tender offer will continue through Sept. 26.

Woodbridge, Ont.-based Royal Group Technologies produces home improvement and building products.

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