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Tomkins holders may put back 6 1/8% notes with notice by Dec. 14
By Jennifer Chiou
New York, Nov. 19 - Tomkins Finance Ltd. announced Dec. 17 as the put date for its 6 1/8% notes due 2015. The notes are guaranteed by Tomkins Ltd.
To exercise their put right, holders may give notice prior to 10 a.m. ET on Dec. 14.
In a tender offer that ended in October, the company accepted and canceled £109,292,000 of the original £250 million of 6 1/8% notes.
According to a company news release, a put event arose under the following circumstances:
• The acquisition of the entire issued and to be issued share capital of Tomkins Ltd. by Pinafore Acquisitions Ltd.; and
• Moody's Investors Service withdrawing the rating of the notes, and Standard & Poor's downgrading the notes' rating to B from BBB.
Tomkins is an engineering group based in London.
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