| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tenders 2010 > News item |
American Achievement extends deadlines for its tender offer to July 6
By Susanna Moon
Chicago, June 21 - American Achievement Group Holding Corp. said it once more extended the early tender deadline for three series of notes, this time to 11:59 p.m. ET on July 6 from 11:59 p.m. ET on June 22.
The tender offer will also end at 11:59 p.m. ET on July 6, extended from 11:59 p.m. ET on June 22. It began on May 10. The early tender deadline was originally set for 5 p.m. ET on May 24. The withdrawal deadline was May 25.
As of 5 p.m. ET on June 18, investors had tendered:
• $28,789,815 principal amount, or 54.77%, of the company's $52,562,667 of 12¾% senior pay-in-kind notes due Oct. 1, 2012;
• $130.97 million principal amount, or 99.6%, of AAC Group Holding Corp.'s $131.5 million of 10¼% senior discount notes due October 2012; and
• $144,755,000 principal amount, or 96.5%, of subsidiary American Achievement Corp.'s $150 million of 8¼% senior subordinated notes due April 2012.
The amount tendered remains unchanged from the amount tendered as of 5 p.m. ET on June 3 and on May 24.
For each $1,000 principal amount, holders will receive $1,063.75 for the 12¾% notes, $1,028.13 for the 10¼% notes and $1,001.25 for the 8¼% notes, each including a $50.00 early tender premium.
Holders will also receive accrued interest.
The companies previously said they planned to fund the offer using a combination of the proceeds of an at least $400 million debt financing by American Achievement Corp. and cash on hand.
Goldman, Sachs & Co. (800 828-3182) is the dealer manager. The information agent is Global Bondholder Services Corp. (866 470-4300 or call collect 212 430-3774).
American Achievement is a scholastic products company based in Austin, Texas.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.