Hanger Orthopedic tenders for any and all $175 million 10¼% notes

By Jennifer Chiou

New York, Oct. 19 - Hanger Orthopedic Group Inc. announced the start of a cash tender offer for any and all of its $175 million of 10¼% senior notes due 2014.

The offer will end at 8 a.m. ET on Nov. 17.

For each $1,000 principal amount, the company will pay $1,056.25, including a $30.00 early tender premium for those who tender prior to 5 p.m. ET on Nov. 1.

Holders will also receive accrued interest.

Concurrently with the offer, the company intends to issue $200 million of senior notes, with the proceeds earmarked for funding the tender.

D.F. King & Co., Inc. is the depositary and information agent (call collect 212 269-5550 or 888 605-1957). The dealer managers are Bank of America Merrill Lynch (888 292-0070 or call collect 980 388-9217) and Jefferies & Co., Inc. (888 708-5831 or call collect 203 708-5831).

Hanger is an Austin, Texas-based provider of orthotic and prosthetic patient care services.

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