Hanger Orthopedic gets no more tenders for 10¼% notes since early date

By Susanna Moon

Chicago, Nov. 17 - Hanger Orthopedic Group, Inc. said it received no additional tenders of its outstanding 10¼% senior notes due 2014 after the early date.

The offer expired at 8 a.m. ET on Nov. 17.

Holders had tendered $172,443,000 principal amount, or 98.5%, of its $175 million of 10¼% senior notes due 2014 as of 5 p.m. ET on Nov. 1.

The tender offer began on Oct. 19.

Holders who tendered by the early tender date received $1,056.25 per $1,000 principal amount of notes on Nov. 2. This payout included a $30.00 early tender premium.

Holders also received accrued interest.

The company funded the offer with the proceeds of a $200 million issue of 7 1/8% senior notes due 2018.

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). The depositary and information agent is D.F. King & Co., Inc. (888 605-1957 or call collect 212 269-5550).

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

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