Published:
Claymont Steel Announces Consent Solicitation
CLAYMONT, Del., July 1 /PRNewswire/ -- Claymont Steel, Inc. (the
"Company") today announced that on June 27, 2008 it commenced a consent
solicitation with respect to certain proposed amendments to the indenture
under which its 8.875% Senior Notes due 2015 (the "Notes") were issued. The
proposed amendments would delete or modify substantially all of the
restrictive covenants, as well as certain events of default and related
provisions in the indenture. Holders of a majority in aggregate principal
amount of the Notes have indicated that they intend to deliver consents.
The consent solicitation will expire at 5:00 p.m.,New York City time, on
July 11, 2008 (as the same may be extended, the "Expiration Date"). Assuming
the conditions to the consent solicitation are satisfied, the only
consideration received by holders of the Notes that deliver their consents is
the Company's agreement to commence and consummate a cash tender offer for the
Notes.
The terms and conditions of the consent solicitation are set forth in the
Company's Consent Solicitation Statement dated June 27, 2008 and the related
Consent Form.
RBS Greenwich Capital is acting as solicitation agent for the consent
solicitation. The information and tabulation agent for the consent
solicitation is D.F. King & Co., Inc. Requests for documentation should be
directed to D.F. King & Co., Inc. at (800) 967-7921. Questions regarding the
terms of the consent solicitation should be directed to RBS Greenwich Capital
at (203) 618-6145 or (877) 297-9832.
This press release is neither an offer to purchase nor a solicitation of
an offer to sell securities. The consent solicitation is being made only
pursuant to the Company's Consent Solicitation Statement dated June 27, 2008
and the related Consent Form.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Statements of future
goals and similar statements other than historical facts constitute
forward-looking statements. These forward-looking statements involve a number
of risks and uncertainties, which are described in Claymont Steel's filings
with the Securities and Exchange Commission. The actual results may differ
materially from any forward-looking statements due to such risks and
uncertainties. Claymont Steel undertakes no obligation to revise or update any
forward-looking statements in order to reflect events or circumstances that
may arise after the date of this release.
SOURCE Claymont Steel, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: delaware
_ _Is your favorite bookmark site missing?
Ask for it.
Search News
Daily News
