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US Unwired receives tenders of $235.8 million 13 3/8% notes
New York, June 10 - US Unwired Inc. said its tender offer for up to $400 million face amount of its 13 3/8% senior subordinated discount notes due 2009 expired at 1 p.m. ET Thursday with $235.814 million face amount of the securities tendered.
The company said it plans to buy all those notes immediately after the closing of its offering of $360 million of new senior secured notes, scheduled for June 16.
At its last announcement, US Unwired said on June 9 that it had extended its tender offer for any and all its $400 million face amount of 13 3/8% notes to 1 p.m. ET on June 10 from midnight ET on June 9.
By 5 p.m. ET on June 9, holders had tendered $235.814 million face amount of the notes.
The Lake Charles, La., Sprint PCS affiliate is also soliciting consents to amend the note indenture to eliminate certain events of default and restrictive covenants.
US Unwired announced the tender on May 12, saying that holders who tender by the consent deadline of 5 p.m. ET on May 25 will receive $1,050 per $1,000 face amount including a consent payment of $30 per $1,000.
Holders who tender after the consent date but before the expiry of midnight ET on June 9 will receive $1,020 per $1,000 face amount.
The offer is subject to various conditions including at least a majority of the face amount of the notes being tendered and US Unwired having sufficient funds to finance the tender from an offering of debt securities.
D.F. King & Co. Inc. is the information agent (800 290-6431 or call collect 212 269-5550). Lehman Brothers is the dealer manager and solicitation agent (contact Liability Management Group at 800 438-3242 or call collect 212 528-7581).
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