WII Components gets tenders, consents for all 10% notes by early date

By Susanna Moon

Chicago, July 8 - WII Components, Inc. said it received tenders and consents for $105.85 million, or all, of its outstanding 10% senior notes due 2012 by 5 p.m. ET on July 7, the consent date.

As a result, the company executed a second supplemental indenture implementing the proposed amendments and it became operative on July 8, immediately prior to the company closing new senior secured credit facilities and issuing new subordinated notes.

The offer was subject to conditions including the receipt of sufficient proceeds to fund the transaction.

The company sought consents to amend the note indenture in order to eliminate substantially all of the restrictive covenants and some events of default. WII needed consents for a majority of the notes.

Those who tendered were deemed to have delivered consents. Consents could not be given without tendering.

Holders will receive $1,002.50 per $1,000 principal amount of notes plus accrued interest up to but excluding July 8. The total includes a consent payment of $2.50.

D.F. King & Co., Inc. is the tender agent and information agent (888 628-9011 or call collect 212 269-5550).

WII Components is a St. Cloud, Minn., manufacturer of hardwood cabinet doors, hardwood components and engineered wood products.

© 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.