TriMas gets needed consents, will redeem all 9 7/8% notes not tendered

By Susanna Moon

Chicago, Dec. 30 - TriMas Corp. said investors had tendered $245,626,000, or 95.75%, of its 9 7/8% senior subordinated notes due 2012 as of 5 p.m. ET on Dec. 28, the consent date.

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

TriMas is extending the withdrawal deadline to 11:59 p.m. ET on Jan. 12.

The tender offer for the $256,537,000 outstanding 9 7/8% notes will expire at 11:59 p.m. ET on Jan. 12. It began Dec. 15.

TriMas also said it will redeem all notes that remain outstanding after the consent date at $1,016.46 per $1,000 principal amount of notes plus accrued interest.

TriMas previously said it will pay $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 is 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) is the dealer manager and solicitation agent.

Requests for copies of the tender offer documents may 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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