Mark IV tenders for 7½% notes

New York, May 15 - Mark IV Industries, Inc. said it has begun a tender offer and consent solicitation for its $250 million of 7½% senior subordinated notes due 2007.

The company is offering $1,010 for each $1,000 in principal amount including a consent payment of $20 per $1,000 that will only be paid to those how tender by the consent deadline of 5 pm. ET on May 26.

Those who tender after the consent deadline but before the expiration of 8 a.m. ET on June 13 will receive $990 per $1,000 principal amount.

Mark IV will also pay accrued interest up to buy excluding the settlement date.

The consent solicitation is to eliminate substantially all of the restrictive covenants in the note indenture.

Holders who tender must deliver consents.

Mark IV, an Amherst, N.Y., maker of engineered systems and components for transportation infrastructure, vehicles and equipment, said the offer is part of a refinancing of some of its debt.

The tender is subject to conditions including the receipt of sufficient consents to amend the note indenture and completion of all or most of the refinancing.

Bear, Stearns & Co. Inc. is dealer manager and solicitation agent (call collect 212 272-5112 or 877 696-BEAR). D.F. King & Co., Inc. is information agent (bank and brokers call 212 269-5550, others call 888 644-5854).

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