Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Tenders 2010 > News item |
Nalco obtains early tenders for $113.08 million 8 7/8% notes, €114.45 million 9% notes
By Jennifer Chiou
New York, Dec. 20 - Nalco Co. announced that it received early tenders for $113,077,000 of its $465 million of 8 7/8% senior subordinated notes due 2013 and €114,445,000 of its €200 million of 9% senior subordinated notes due 2013 as of 5 p.m. ET on Dec. 20.
The company also extended the tender offers to midnight ET on Jan. 21, prolonged from Jan. 5. The tenders launched on Dec. 8.
The company is offering $1,017.79 for each $1,000 principal amount of 8 7/8% notes and €1,018.00 for each €1,000 principal amount of 9% notes. These amounts include an early tender premium of $15.00 or €15.00 for each note tendered by the early tender date.
Holders will also receive accrued interest up to but excluding the payment date.
As already reported, the company may elect to accept for purchase prior to the expiration all notes tendered by the early tender date.
Nalco also said that it plans to exercise its right to redeem the notes that are not tendered. The optional redemption date is slated for Jan. 20.
The consummation of the tender offers is not conditioned on any minimum amount of notes being tendered, but it is conditioned on the satisfaction or waiver of some other conditions.
The dealer managers are Goldman Sachs & Co. and Goldman Sachs International (call either at 800 828-3182). The information agent is D.F. King & Co., Inc. (212 269-5550 for banks and brokers, others call 800 967-4607).
Nalco is a water treatment and process improvement company based in Naperville, Ill.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.