Oxford Industries begins tender offer for 8 7/8% notes due 2011

By Angela McDaniels

Tacoma, Wash., June 15 - Oxford Industries, Inc. has begun a tender offer for any and all of its $166,805,000 principal amount of 8 7/8% senior notes due 2011, according to a company news release.

The company is offering par for each note tendered by 5 p.m. ET on June 26, which includes an early tender payment of $30 per $1,000 principal amount.

Noteholders who tender after that time but before the offer expiration will receive $970 per $1,000 principal amount.

The tender offer will expire at midnight ET on July 13.

Oxford plans to finance the offer with the proceeds of a new notes offering and borrowings under its U.S. revolving credit facility.

The closing of the tender offer is conditioned, among other things, on Oxford's successful completion of the new notes offering.

Banc of America Securities LLC (888 292-0070 or 980 388-9217) and SunTrust Robinson Humphrey, Inc. (404 813-8107) are the dealer managers.

Global Bondholder Services Corp. (866 795-2200 or 212 430-3774) is the information agent.

Oxford Industries is an apparel design, sourcing and marketing company based in Atlanta.

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