Allison Transmission accepts total tenders for 92.63% of 11¼% notes

By Jennifer Chiou

New York, May 13 - Allison Transmission, Inc. announced the wrap of the tender offer for any and all of its 11¼% senior toggle notes due 2015.

Overall, the company took in tenders for $468,080,740, or 92.63%, of the notes. Of those tenders, $467,905,740 principal amount of the notes had been tendered prior to 5 p.m. ET on April 26, the early deadline. The latter notes were settled on May 6.

For each $1,000 principal amount, the company paid $1,107.50, including a $30.00 early payment for those who tendered prior to the early deadline.

Allison also paid accrued interest to the settlement date.

The offer ended at midnight ET on May 12. It launched on April 15.

The tender was conditioned on financing but did not have a minimum tender requirement.

The Indianapolis-based automatic transmissions company previously said it intended to redeem or repurchase any untendered notes after the offer.

Citigroup Global Markets Inc., Barclays Capital, Deutsche Bank Securities and UBS Securities LLC were the dealer managers. Global Bondholder Services Corp. was the depositary and information agent (866 389-1500 or 212 430-3774).

Questions were to be directed to Citigroup at 800 558-3745 or collect at 212 723-6106; Barclays Capital at 800 438-3242 or collect at 212 528-7581; Deutsche Bank at 855 287-1922 or collect at 212 250-7527; or UBS at 888 719-4210 or collect at 203 719-4210.

© 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.