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Extension of Expiration Date for Previously Announced Tender Offers and Consent Solicitations in Anticipation of Sale of Safety Products Holdings, Inc.
Extension of Expiration Date for Previously Announced Tender Offers and Consent Solicitations in Anticipation of Sale of Safety Products Holdings, Inc.
OAK BROOK, Ill., May 9 /PRNewswire/ -- In anticipation of the previously
announced proposed sale (the "Sale") of Safety Products Holdings, Inc. (the
"Company") to Honeywell International Inc., the Company announced today that
it is extending the expiration date (as extended, the "Expiration Date") of
its tender offer with respect to its 11-3/4% Senior PIK Notes due 2012 (the
"Holdco Notes") and Norcross Safety Products L.L.C. (the "Opco Purchaser" and
together with the Company, the "Purchasers") announced that it is extending
the Expiration Date of its tender offer with respect to its 9-7/8% Senior
Subordinated Notes due 2011 (the "Opco Notes" and together with the Holdco
Notes, the "Notes"). The Expiration Date for the tender offers has been
extended from 12:00 midnight,New York City time, on May 9, 2008 to 9:00 a.m.
New York City time on May 15, 2008, unless further extended.
To date, the Company has received tenders and consents from holders of
99.99%, or $173,849,453, of the $173,849,512 outstanding aggregate principal
amount of its Holdco Notes and the Opco Purchaser has received tenders and
consents from holders of 100%, or $152,500,000 of the $152,500,000 outstanding
aggregate principal amount of its Opco Notes. As previously announced, the
Purchasers have received the requisite consents from the holders of the Notes
to amend the indentures governing the Notes. As a result of obtaining the
required consents, the supplemental indentures effecting the amendments to the
indentures governing each series of Notes contemplated by the tender offers
and consent solicitations were executed on April 25, 2008. The amendments to
the indentures set forth in each supplemental indenture will not become
operative until immediately prior to the consummation of the Sale and will
cease to be operative unless the Sale is consummated and the respective
Purchasers accept for purchase all of the applicable Notes tendered pursuant
to each tender offer.
The tender offers and consent solicitations are being made upon the terms
and subject to the conditions set forth in the related offer to purchase and
consent solicitation statements dated April 14, 2008 (the "Statements").
Except for extension of the Expiration Date, all other terms and conditions of
the tender offers and consent solicitations remain unchanged. Holders that
have previously tendered Notes do not need to re-tender their Notes or take
any other action in response to these extensions.
This announcement is not an offer to purchase, nor a solicitation of an
offer to purchase, or a solicitation of tenders or consents with respect to,
any Notes. The tender offers and consent solicitations are being made solely
pursuant to the Statements.
The Purchasers have retained Credit Suisse Securities (USA) LLC to serve
as Dealer Manager and Solicitation Agent and D.F. King & Co., Inc. to serve as
Information Agent and Tender Agent. Requests for documents may be directed to
D.F. King & Co., Inc. by telephone at (800) 431-9643 (toll free) or
(212) 269-5550 (collect). Questions regarding the tender offers and consent
solicitations should be directed to Credit Suisse Securities (USA) LLC by
telephone at (212) 325-4951 (collect).
The Company is a leading designer, manufacturer and marketer of branded
products in the fragmented personal protection equipment industry. The
Company manufactures and markets a full line of personal protection equipment
for workers in the general safety and preparedness, fire service and
electrical safety industries. The Company sells its products under trusted,
long-standing and well-recognized brand names, including North, KCL,
Fibre-Metal, NEOS, Morning Pride, Ranger, Servus, Pro-Warrington, American
Firewear,Salisbury and SafetyLine. The Company's broad product offering
includes, among other things, respiratory protection, protective footwear,
hand protection, turnout gear and linemen equipment.
SOURCE Safety Products Holdings, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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