Amsted Industries extends consent solicitation for 10¼% senior notes

New York, Jan. 19 - Amsted Industries Inc. said it has extended its solicitation of consents from holders of its $250 million 10¼% senior notes due 2011 to amend the note indenture.

The expiration is now 5 p.m. ET on Jan. 20 instead of 5 p.m. ET on Jan. 19.

As announced on Jan. 5, the Chicago-based manufacturer of industrial components is seeking the ability to add $125 million to its capacity to make future Employee Stock Ownership Plan stock repurchases.

Amsted is offering a fee of $3.75 in cash for each $1,000 principal amount to holders who consent.

The solicitation is conditioned on the receipt of consents from holders of at least a majority of the outstanding notes, the receipt of consent from the required lenders under the company's senior credit facilities and other customary conditions.

Banc of America Securities LLC is the solicitation agent (212 847-5834 or 888 292-007). MacKenzie Partners Inc. is information agent (212 929-5500 or 800 322-2885).

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