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Prospect News home > News index > List of issuers T > Headlines for Tenders 2007 > News item |
Jarden noteholders tender 94.4% of 9¾% notes
By Angela McDaniels
Seattle, Feb. 28 - Jarden Corp. said it accepted for payment $170.005 million, or 94.4%, of its $180 million 9¾% senior subordinated notes during a tender offer that ended on Tuesday and began on Feb. 2.
The tender consideration is $1,057 for each $1,000 principal amount of notes, which includes a $30 consent payment for noteholders who tendered by Feb. 9, the consent deadline.
The company announced on Feb. 14 that it used proceeds from its $650 million offering of 7½% senior subordinated notes due 2017 to buy back $167 million, or 93%, of the 9¾% notes, which was enough to execute the supplemental indenture eliminating substantially all restrictive covenants in the note indenture.
Lehman Brothers Inc. (800 438-3242 or call collect 212 528-7581) was the dealer manager and solicitation agent, and Global Bondholder Services Corp. (866 470-4200 or call collect 212 430-3774) was the information agent.
Jarden is based in Rye, N.Y., and produces niche consumer products used in and around the home.
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