WII Components tenders for 10% notes due 2012

By Jennifer Chiou

New York, Dec. 12 - WII Components Inc. announced the start of a tender offer for its $120 million of 10% senior notes due 2012 linked to the acquisition of the company by WII Holding, Inc., a newly formed corporation controlled by Olympus Growth Fund IV, LP.

WII Components is also soliciting consents to make amendments to the indenture that would eliminate substantially all restrictive covenants and certain events of default.

For each $1,000 principal amount, the company said it will pay $1,012.50, which includes a $30.00 consent payment for those who tender by 5 p.m. ET on Dec. 22.

The offer ends at midnight ET on Jan. 10.

The offer is conditioned on tenders from a majority of noteholders and the completion of the acquisition. WII plans to fund the tender using borrowings under a new senior secured credit facility.

Credit Suisse Securities (USA) LLC is the dealer manager and solicitation agent (800 820-1653 or call collect 212 538-0652). D.F. King & Co., Inc. is the information agent (800 659-6590 or call collect 212 269-5550).

Based in St. Cloud, Minn., WII makes hardwood cabinet doors, hardwood components and wood products.

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