Aeroflex begins tender offer for any and all 11¾% notes due 2015

By Jennifer Chiou

New York, April 25 - Aeroflex Inc. announced the launch of a tender offer for any and all of its 11¾% senior notes due 2015.

The wholly owned subsidiary of Aeroflex Holding Corp. is also soliciting consents to amend the note indenture, according to a news release.

The offer is to be funded with a portion of the proceeds from a proposed new term loan under Aeroflex's senior secured credit facility, and both the offer and solicitation will end at midnight ET on May 20.

The company will pay a total consideration of $1,088.07 per $1,000.00 principal amount of notes, which includes the early participation premium of $20.00 for those who tender prior to midnight ET on May 6.

The withdrawal deadline coincides with the early deadline.

In an offer that ended on Dec. 6, the company accepted all $32.155 million of tenders for the notes. The company had a purchase price of $1,110.00 per note, including a $40.00 early participation premium, in the previous tender.

J.P. Morgan Securities LLC is the dealer manager and solicitation agent (800 245-8812 or call collect 212 270-3994. Global Bondholder Services Corp. (212 430-3774 or 866 470-3800) is the information agent for the notes offer.

Plainview, N.Y.-based Aeroflex makes radio frequency and microwave integrated circuits, components and systems used in wireless communication systems.

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