Ply Gem accepts early tenders for nearly all 11¾% secured notes

By Jennifer Chiou

New York, Feb. 11 - Ply Gem Industries, Inc. announced the early settlement of tenders for $718,597,000, or 99.12%, of its $725 million of 11¾% senior secured notes due 2013.

The company paid $1,069 per $1,000 principal amount for the securities, including an early tender premium of $40 for tenders prior to midnight ET on Feb. 10.

Those who tender any of the remaining $6,403,000 of notes after that time but before the expiration of midnight ET on Feb. 25 will receive $1,029 per $1,000 principal amount.

In both cases, the company will pay accrued interest up to but excluding the settlement date.

No minimum response is required for the tender to be completed.

Ply Gem added that it will redeem any notes not tendered in the offer at a price of 103 plus accrued interest on March 13.

Credit Suisse Securities (USA) LLC (call collect 212 538-2147 or 800 820-1653) and UBS Securities LLC (call collect 203 719-4210 or 888 719-4210) are the dealer managers. D.F. King & Co., Inc. (800 487-4870) is the information agent and depositary.

Ply Gem is a Cary, N.C., manufacturer of residential exterior building products including vinyl siding, vinyl fencing and vinyl and composite railing, stone veneer, and vinyl windows and doors. It started the offer on Jan. 28.

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