Hockey Co. tenders for 11¼% notes

New York, June 25 - Reebok International Ltd. said its The Hockey Co. and Sport Maska Inc. subsidiaries have commenced a tender offer for their $125 million principal amount of 11¼% senior secured notes due 2009.

The tender offer will be financed by Reebok or one of its subsidiaries. Canton, Mass.-based footwear and sports equipment company Reebok acquired The Hockey Co. Holdings Inc., the parent of Hockey Co. and Sport Maska, on June 17.

In conjunction with the tender, Hockey Co. is seeking consents to amend the note indenture in order to eliminate substantially all of the affirmative and restrictive covenants, certain repurchase rights and certain events of default and related provisions.

The consent solicitation ends at 5 p.m. ET on July 12 while the tender offer ends at 5 p.m. ET on July 26.

Holders may not tender without consenting. Approval of holders of a majority of the notes is needed to amend the indenture.

The price on offer for each $1,000 principal amount of notes will be set using a yield of a fixed spread of 50 basis points plus the yield to maturity of the 2.25% United States Treasury note due April 30, 2006. The total includes a $20 consent payment.

Pricing is expected to occur at 9 a.m. ET on July 13.

Holders will also receive accrued interest up to but not including the payment date.

Only holders who tender by the consent deadline will receive the consent payment.

Credit Suisse First Boston LLC is dealer manager and solicitation agent (contact Liability Management Group at 800 820-1653 or 212 325-3784). MacKenzie Partners, Inc. is the information agent (800 322-2885).

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