Sheridan Group launches tender for any and all 10¼% notes due 2011

By Jennifer Chiou

New York, Feb. 24 - Sheridan Group Inc. announced the start of a cash tender offer and consent solicitation for any and all of its $142.9 million of 10¼% senior secured notes due 2011.

The tender will wrap at 11:59 p.m. ET on March 23.

Sheridan said that the offer and solicitation are in connection with its negotiation of a new credit facility, which will partially fund the tender.

Those who tender by the consent deadline of 5 p.m. ET on March 9 will receive $1,003.75 per $1,000 principal amount of notes, including a consent payment of $10.00. Sheridan will also pay accrued interest.

Early settlement is anticipated for March 17.

The company is seeking consent from holders of a majority of the notes. Upon receipt of those consents, it will execute a supplemental indenture effecting the proposed amendments, which include

BofA Merrill Lynch is the dealer manager and solicitation agent (888 292-0070 or call collect 980 388-9217). Global Bondholder Services Corp. is the information agent (866 873-7700 or call collect 212 430-3774).

Sheridan Group is a Hunt Valley, Md.-based print and publishing company.

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