Business
Celestica announces expiration and final results in cash tender offer for its 7.875% notes
(All amounts in U.S. dollars) TORONTO, March 26 /CNW/ - Celestica Inc. ("Celestica") (NYSE, TSX: ...
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\n(All amounts in U.S. dollars)\n\n\nTORONTO, March 26 /CNW/ - Celestica Inc. ("Celestica") (NYSE, TSX: CLS),\na global leader in the delivery of end-to-end product lifecycle solutions,\ntoday announced the expiration of its previously announced modified "Dutch\nAuction" tender offer (the "Offer") for a portion of its outstanding 7.875%\nSenior Subordinated Notes due 2011 (the "Notes") and released information\nregarding final results of the Offer.\n\n\nThe Offer expired today at 5:00 p.m., New York City time with valid\ntenders (that were not validly withdrawn) by holders of $419.7 million in\naggregate principal amount of Notes in connection with the Offer. Celestica\naccepted for purchase $150,000,000 in aggregate principal amount of Notes,\nwhich is an amount equal to the Tender Cap (as defined in the Offer to\nPurchase). Because the Offer was oversubscribed, Celestica accepted all Notes\ntendered below the Clearing Price (as defined in the Offer to Purchase) and\naccepted Notes tendered at the Clearing Price on a pro rata basis, as provided\nin the Offer to Purchase with a proration factor of 61.89%.\n\n\nHolders, whose Notes have been accepted for purchase and who tendered\nsuch Notes at, or before, the Early Tender Date of 5:00 p.m., New York City\nTime, on March 11, 2009, will receive $1,000 per $1,000 principal amount of\nthe Notes that Celestica accepts for purchase, which includes the Early Tender\nPremium of $20 per $1,000 principal amount. Holders, whose Notes have been\naccepted for purchase and who tendered such Notes after the Early Tender Date\nbut at, or before, the expiration of the Offer, will receive $980 per $1,000\nprincipal amount of the Notes that Celestica accepts for purchase. Holders of\nNotes accepted for purchase will also be paid any accrued and unpaid interest\non such Notes calculated up to, but excluding, the date of payment (the\n"Settlement Date"). The Settlement Date for the Offer is expected to be March\n27, 2009.\n\n\nAll Notes purchased in the Offer will be retired. All Notes tendered but\nnot accepted for purchase, including Notes not accepted for purchase because\nof proration, will be returned promptly to the holders of such Notes at the\nexpense of Celestica and will remain outstanding.\n\n\nBanc of America Securities LLC, Global ...