Teksid Aluminum launches tender offer for up to €35.15 million 11 3/8% notes

By Jennifer Chiou

New York, March 29 - Teksid Aluminum Luxembourg Sarl, SCA said it began a tender offer for up to €35.15 million of its 11 3/8% senior notes due 2011.

The offer ends at 10 a.m. ET on April 27.

Teksid said it will pay par plus accrued interest up to the May 1 payment date.

The company added that it will not spend more than €36,430,778.13.

The company said that if holders of more than €35.15 million of notes tender their securities, it will accept the notes on a pro rata basis.

In a prior solicitation, as of noon ET on March 7, the company said it had received consents from holders of 62% of the €240 million of notes to approve amendments to the indenture to allow Teksid's indirect parent, TK Aluminum Ltd., to sell its operations in North America - except for its lost-foam operations in Alabama, which will be retained by the company - and its operations and interests in South America, China and Poland to Tenedora Nemak, SA de CV, a subsidiary of Alfa, SAB de CV.

The amendments included a required tender offer for a limited portion of the notes at 100% of par.

The Bank of New York (Luxembourg) SA is the tender agent.

Teksid Aluminum Luxembourg is a maker of aluminum engine castings for the automotive industry and a subsidiary of Carmagnola, Italy-based TK Aluminum.

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