ArvinMeritor begins tender offer for $175 million 8¾% notes due 2012

By Devika Patel

Knoxville, Tenn., Feb. 23 - ArvinMeritor Inc. said it has begun a tender offer for up to $175 million of its $276 million in outstanding 8¾% notes due 2012.

The offer will expire at 11:59 p.m. ET on March 22.

Holders who tender before 5 p.m. ET on March 8 will receive the total consideration, which is $1,065 for each $1,000 of notes and includes an early tender payment of $30.

Holders who tender after the early tender date and before the expiration date will receive $1,035 for each $1,000 of notes.

In addition to any consideration received, holders who tender will be paid any accrued interest calculated up to but not including the settlement date, which is expected to be March 23.

ArvinMeritor will fund the purchase from the proceeds of its pending notes offering.

Bank of America Merrill Lynch (888 292-0070, or collect 980 388-9217), JPMorgan (866 834-4666, or collect 866 834-3424), Citi (800 558-3745 or collect 212 723-6106) and RBS (877 297-9832 or collect 203 897-6145) are the dealer managers. Global Bondholder Services Corp. (866 540-1500 or collect 212 430-3774) is the information agent and depositary.

ArvinMeritor is a Troy, Mich.-based supplier of a broad range of integrated systems, modules and components to the motor vehicle industry.

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