Ply Gem tenders for $756 million 8¼% notes, $96 million 9 3/8% notes

By Susanna Moon

Chicago, Jan. 10 - Ply Gem Industries, Inc., a wholly owned subsidiary of Ply Gem Holdings, Inc., said it began cash tender offers for its $756 million outstanding 8¼% senior secured notes due 2018 and its $96 million outstanding 9 3/8% senior notes due 2017.

The total purchase price per $1,000 principal amount will be $1,067.50 for the 8¼% notes and $1,108.36 for the 9 3/8% notes, which includes an early payment of $30, tendered by the early tender deadline of midnight ET on Jan. 24.

Those who tender after the early deadline will receive $1,037.50 for the 8¼% notes and $1,078.36 for the 9 3/8% notes.

Holders also will receive accrued interest up to but excluding the settlement date, which is expected to be Jan. 30 for early tendered notes.

The tender offers will end at midnight ET on Feb. 7.

Tendered notes may be withdrawn by midnight ET on Jan. 24.

The completion of the tender offers is not conditioned on any minimum amount of notes being tendered but is conditioned on completion of one or more debt financings with enough proceeds to fund the offers. Each tender offer is being made independently of the other tender offer and neither tender offer is conditioned on the completion of the other tender offer.

Credit Suisse Securities (USA) LLC (212 538-2147 collect or 800 820-1653, attn.: liability management group) is the dealer manager. D.F. King & Co., Inc. (800 487-4870 or plygem@dfking.com) is the information agent and tender agent.

Ply Gem is a Cary, N.C.-based manufacturer of residential exterior building products.

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