Herman Miller begins Dutch tender for some 7.125% notes due 2011

By Jennifer Chiou

New York, June 24 - Herman Miller, Inc. announced the launch of a modified Dutch auction tender offer for a portion of its outstanding 7.125% notes due 2011.

For each $1,000 principal amount, the company will pay $1,020 to $1,070 for up to $75 million of the $175 million of notes. Tenders will be in increments of $2.50.

The payout includes a $40.00 early tender payment for those who tender by 5 p.m. ET on July 8.

The offer ends at 11:59 p.m. ET on July 22.

Herman Miller said it will also pay accrued interest.

Goldman, Sachs & Co. is the dealer manager (877 686-5059 or 212 902-5183). Global Bondholder Services Corp. is the information agent (866 387-1500 or call collect 212 430-3774).

Zeeland, Mich.-based Herman Miller manufactures office furniture and equipment.

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