National Waterworks accepts, purchases all $200 million 10½% notes due 2012 in tender offer

By Jennifer Chiou

New York, Aug. 26 - National Waterworks, Inc. said it accepted and purchased all $200 million of its 10½% senior subordinated series B notes due 2012.

The Waco, Texas, company's tender offer ended at 5 p.m. on Aug. 25.

On Aug. 23, the company said it would pay $1,175.68 per $1,000 principal amount, including a $30.00 per $1,000 principal amount consent payment, for notes tendered by the Aug. 3 consent deadline.

At its last announcement on Aug. 15, National Waterworks extended the tender to 5 p.m. ET on Aug. 25 from 5 p.m. ET on Aug. 17.

The tender is being carried out as part of the acquisition of its parent company. As previously announced, Home Depot U.S.A., Inc. will acquire all National Waterworks Holdings, Inc.'s outstanding stock.

As of Aug. 3, 100% of the notes were tendered. The company had added conditions to the offer, including a completed acquisition.

J.P. Morgan Securities Inc. is the dealer manager and solicitation agent (866 834-4666 or call collect 212 834-3424). Global Bondholder Services Corp. is the information agent (866 387-1500 or call collect 212 430-3774).

National Waterworks distributes pipes, fittings, valves, meters, fire hydrants, service and repair products for water transport.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.