MILTON, Ga. — Exide Technologies has announced the results, to date, of its cash tender offer for its outstanding 10 ½ percent Senior Secured Notes due 2013, and the related consent solicitation to amend the indenture governing the Notes.
The tender offer and the consent solicitation are being made on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated Jan. 10 and the related letter of transmittal and consent.
At or prior to 5 p.m. EST on Jan. 24, approximately $276 million aggregate principal amount of Notes, representing approximately 95.20 percent of the aggregate principal amount of Notes outstanding, had been validly tendered. The company said it intends to accept for purchase all $276 million aggregate principal amount of Notes validly tendered prior to the Consent Deadline. Accordingly, Exide says it has received consents sufficient to approve the proposed amendments to the indenture governing the Notes.
The tender offer remains open and will expire at midnight on Feb. 7 unless extended by the company.
The total consideration to be paid for Notes that were validly tendered prior to the Consent Deadline will be equal to $1,014 for each $1,000 in principal amount of Notes, plus accrued and unpaid interest on such principal amount of Notes to, but not including, the date of payment for the Notes accepted for purchase.
