Doe Run extends tender offer for 11¾% notes another time

By Jennifer Chiou

New York, Feb. 5 - Doe Run Resources Corp. said it once more pushed back the deadline of the tender offer for its $218.967 million of 11¾% senior notes due 2008, this time to 5 p.m. ET on Feb. 6.

The offer began on Dec. 5 and was originally scheduled to expire on Jan. 4. Doe Run previously extended the deadline to Jan. 19, then to Feb. 2 and Feb. 5.

Holders who tendered by Dec. 22, the consent deadline, will receive $1,002.50 per $1,000 principal amount of notes, which includes a consent payment of $2.50 per $1,000 principal amount of notes.

Doe Run previously noted that those who delivered their notes to the depositary by Dec. 28 will also receive the total consideration of $1,002.50.

Those who tendered after that date will receive par. All noteholders who tender will also receive accrued interest up to but excluding the payment date.

The St. Louis-based natural resources company previously said it received consents from holders of more than half of the notes during the consent solicitation and has executed a supplemental indenture.

The amendments to the note indenture to eliminate substantially all of the restrictive covenants and certain provisions related to events of defaults will become operative following the conclusion of the tender offer.

Wachovia Securities (866 309-6316 or call collect 704 715-8341) is the dealer manager and solicitation agent for the offer, U.S. Bank NA is the depositary and D.F. King & Co., Inc. (800 758-5378 or call collect 212 269-5550) is the information agent.

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