Business
Celestica Inc. announces Expiration of Early Tender Date and Withdrawal Rights Deadline in Offer for its 7.875% Notes
(All amounts in U.S. dollars) TORONTO, March 13 /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 13 /CNW/ - Celestica Inc. ("Celestica") (NYSE, TSX: CLS),\na global leader in the delivery of end-to-end product lifecycle solutions,\ntoday announced that the Early Tender Date (as defined below) in respect of\nits previously announced modified "Dutch Auction" tender offer (the "Offer")\nfor a portion of its outstanding 7.875% Senior Subordinated Notes due 2011\n(the "Notes") expired at 5:00 p.m., New York City time, on March 11, 2009.\n\n\nAs of the Early Tender Date, Celestica received valid tenders from\nholders of $406.6 million in aggregate principal amount of the Notes at\nvarious bid prices within the acceptable bid price range of $960 to $1,010 per\n$1,000 principal amount. This represents 83.1% of the outstanding principal\namount of the Notes. Holders who validly tendered and did not validly withdraw\ntheir Notes at or prior to the Early Tender Date will be eligible to receive\nthe Early Tender Payment of $20 per $1,000 principal amount of Notes for Notes\nthat are accepted for purchase by Celestica pursuant to the Offer, which\namount is included in the bid price specified by such tendering holders.\n\n\nPreviously validly tendered Notes cannot be withdrawn after the\nWithdrawal Rights Deadline, which also occurred at 5:00 p.m., New York City\ntime, on March 11, 2009, and holders who validly tender Notes after the\nWithdrawal Rights Deadline do not have withdrawal rights. The Offer will\nexpire at 5:00 p.m., New York City time, on March 26, 2009, unless extended\n(the "Expiration Date").\n\n\nPursuant to the offer to purchase dated February 26, 2009 (the "Offer to\nPurchase"), holders of Notes may still tender their Notes after the Early\nTender Date until the Expiration Date and still be eligible to receive the\nTender Offer Consideration as determined pursuant to the Offer (but not the\nEarly Tender Payment) to the extent Celestica accepts such Notes for purchase\nin the Offer.\n\n\nThe aggregate amount of Notes validly tendered and not withdrawn to date\nexceeds the Tender Cap ($150 million in aggregate principal amount of the\nNotes); therefore, Celestica will accept for purchase Notes validly tendered\nin the Offer on a prorated basis as described in the Offer to Purchase.\nCelestica will determi...