Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Tenders 2005 > News item |
Rayovac tenders for United Industries' 9 7/8% notes
New York, Jan. 5 - Rayovac Corp. said it has begun a cash tender offer for United Industries Corp.'s $231.9 million principal amount of 9 7/8% series D senior subordinated notes due 2009.
Rayovac is also soliciting consents from the holders of the notes to amend the note indenture to eliminate substantially all the covenants and certain events of default.
The tender offer is in conjunction with Rayovac's acquisition of United Industries. Funding will come from an offering of senior subordinated notes and a new senior secured credit facility.
Holders who tender by the consent deadline of 5 p.m. ET on Jan. 19 will receive $1,053.13 per $1,000 principal amount including a $30.00 per $1,000 principal amount consent payment.
Those who tender after the consent deadline but before the expiration of midnight ET on Feb. 2 will receive $1,023.13 per $1,000 principal amount.
Rayovac, an Atlanta-based battery, shaving and grooming, and lighting company, said that after the acquisition is complete it intends to redeem any notes not tendered.
D.F. King & Co. Inc. is the information agent (800 290-6427 or call collect 212 269-5550). Banc of America Securities LLC is the dealer manager and solicitation agent (888 292-0070 or call collect 704 388-9217).
© 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.