News Column

American Apparel Posts Extension of Exchange Offer

January 28, 2014

American Apparel announced that it has extended its offer to exchange its outstanding 13.0 percent Senior Secured Notes due 2020 for 13.0 percent Senior Secured Notes due 2020 that have been registered under the Securities Act of 1933, as amended (the "Exchange Offer"). According to a release, the Exchange Offer, previously scheduled to expire at 5 p.m. , New York City time, on January 22 , will now expire at 5 p.m. , New York City time, on February 11 , unless further extended by the issuer. All other terms and conditions of the Exchange Offer will remain in full force and effect. The terms and conditions of the Exchange Offer are set forth in a prospectus dated December 20, 2013 . Copies of the prospectus and related letter of transmittal may be obtained from the exchange agent, U.S. Bank National Association . The new notes are substantially identical to the notes for which they are being exchanged, except that the new notes will be registered under the Securities Act of 1933, as amended, and, as a result, the transfer restrictions and registration rights provisions applicable to the original notes will not apply to the new notes. As of 5 p.m. , New York City time, on January 22 , approximately $205,825,000 in aggregate principal amount of the 13.0 percent Senior Secured Notes due 2020 had been validly tendered and not withdrawn in the Exchange Offer, including by means of guaranteed delivery. This amount represents approximately 99.92 percent of the outstanding 13.0 percent Senior Secured Notes due 2020. ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Manufacturing Close - Up


Story Tools