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Royal Group extends tender offer for 7.1% notes
By Laura Lutz
Des Moines, Sept. 25 - Royal Group Technologies Ltd. extended the tender offer for its 7.1% series D notes due 2007 to 5 p.m. ET on Oct. 2.
The offer, originally set to expire on Sept. 26, was extended to coincide with the expected closing of the acquisition of Royal Group by Georgia Gulf Corporation.
On Sept. 13, the company said it had received tenders from holders of more than two-thirds of the notes.
The total consideration for each $1,000 principal amount of the notes tendered will be $1,018.60 plus accrued interest through the date of payment.
The consents it has received will allow Royal Group to amend some terms of the purchase agreement under which the notes were sold. The amendments will go into effect when the company accepts the tendered notes for payment.
The tender offer was announced on Aug. 28.
Woodbridge, Ont.-based Royal Group Technologies produces home improvement and building products.
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