TriMas ends tender, solicitation for 9 7/8% notes; remainder redeemed

By Jennifer Chiou

New York, Jan. 14 - TriMas Corp. announced the conclusion of its tender offer and consent solicitation under which it received tenders from holders of $245,694,000, or 95.77%, of its 9 7/8% senior subordinated notes due 2012.

That figure reflects an additional $68,000 of notes tendered after 5 p.m. ET on Dec. 28, the consent date.

The company added that it redeemed the remaining notes on Dec. 29.

The tender offer for the $256,537,000 of outstanding 9 7/8% notes expired at 11:59 p.m. ET on Jan. 12. It began on Dec. 14.

TriMas had previously extended the withdrawal deadline to 11:59 p.m. ET on Jan. 12.

As previously reported, the issuer entered into a supplemental indenture with the trustee to amend the notes to eliminate substantially all of the restrictive covenants and default provisions.

TriMas redeemed the notes that were outstanding after the consent date at $1,016.46 per $1,000 principal amount of notes plus accrued interest.

TriMas previously paid $1,020.25 for each $1,000 principal amount of notes tendered by the consent date, including a $50.00 consent fee.

The completion of the tender offer was conditioned on sufficient proceeds from new debt financing and from cash on hand to fund the purchase.

Credit Suisse Securities (USA), LLC (800 820-1653 or collect 212 538-1862) was the dealer manager and solicitation agent. Requests for copies of the tender offer documents were to be directed to MacKenzie Partners, Inc. (800 322-2885 or collect 212 929-5500).

TriMas is a Bloomfield Hills, Mich., provider of engineered and applied products.

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