Carson Announces Successful Spread Offer for Bonds.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 7, 2000 Carson, Inc., a wholly-owned subsidiary of L'Oreal USA, Inc., today announced that as of 5:00 p.m. EST P.M. also p.m. or p.m. abbr. post meridiem Usage Note: By definition, 12 a.m. on September 6, 2000 (the "Consent Date"), it had received, in connection with its spread tender offer and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with (the "Spread Offer"), tenders and related indenture amendment consents from the holders of 100 percent of the outstanding principal amount of its 10-3/8 percent Senior Subordinated Notes due 2007. Carson has been advised by Chase Mellon Shareholder Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the Paying Agent Paying Agent An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent. for the Spread Offer for the Notes, that, as of the Consent Date, holders of all $73,000,000 outstanding principal amount of Notes had validly tendered (and not withdrawn) their Notes in the Spread Offer and had consented to the Proposals to amend the indenture governing the Notes, which are described in Carson's Offer to Purchase and Consent Solicitation Statement. Pursuant to the Spread Offer, tenders of Notes and consents may not be withdrawn after the Consent Date. The reference U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Bond for the Spread Offer is the U.S. Treasury 5.75 percent Bond due October 31, 2002; the yield on the reference U.S. Treasury Bond and the Spread Offer yield are 6.084 percent and 6.584 percent, respectively. Assuming a payment date of September 22, 2000, the total consideration payable to holders of Notes pursuant to the Spread Offer is $1,118.62 per $1,000 principal amount, of which $20.00 is a consent payment and $1,098.62 is a tender payment. Carson will also pay accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. on all Notes tendered and accepted for payment up to, but excluding, the payment date. The Spread Offer is scheduled to expire at 12:00 a.m. EST EST electroshock therapy. EST abbr. electroshock therapy on September 20, 2000. Questions or requests for assistance concerning the spread offer or the concurrent change of control offer should be directed to Lazard Freres & Co. LLC, which is acting as the Dealer Manager for the tender offers at (212) 632-6717 (Collect). Requests for additional copies of any documents may be directed to the information agent, Innisfree M&A Incorporated at (888) 750-5834. The paying agent for the tender offer is Chase Mellon Shareholder Services. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion