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Good Sam accepts tenders for $213.6 million 11½% notes, calls rest
By Jennifer Chiou
New York, Dec. 5 - Good Sam Enterprises, LLC said it accepted tenders for $213.6 million principal amount of its 11½% senior secured notes due 2016 in the offer for any and all of the $325,574,000 of notes.
The offer ended at 11:59 p.m. ET on Dec. 4, and all of the tenders were received by 5 p.m. ET on Nov. 19, the early tender deadline.
The company paid $1,092.75 per $1,000 principal amount of notes. The total payment per $1,000 principal amount consists of the tender offer payment of $1,042.75 plus an early tender payment of $50.00.
The company also paid accrued interest to but excluding the payment date.
As noted before, the offer was conditioned on completion of debt financing with enough proceeds to fund the purchase.
Good Sam added that it will redeem any remaining notes at $1,086.25 per $1,000 principal amount plus accrued interest to Dec. 20, the redemption date.
The company filed plans to begin the tender offer on Oct. 29 in an 8-K filing with the Securities and Exchange Commission and announced the start of the offer on Nov. 5.
The information agent and tender agent was D.F. King & Co., Inc. (212 269-5550 for banks and brokers and 800 207-3158 for all others). Goldman Sachs & Co. (attn.: liability management group at 800 828-3182 or 212 357-0215 collect) was the dealer manager.
Good Sam Enterprises is a Lincolnshire, Ill.-based specialty retailer of RV-related products and a member-based direct marketing organization targeting recreational vehicle owners and outdoor enthusiasts. Formerly known as Affinity Group, LLC, the company is a subsidiary of Affinity Group Holding, LLC.
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