Moll Industries, Inc. Announces Closing of Partial Tender Offer and Consent Solicitation for Senior Subordinated Notes.Business Editors DAVIE, Fla.--(BUSINESS WIRE)--Dec. 31, 2001 Moll Industries, Inc. (the "Company") announced today that it has closed the cash tender offer (the "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 "Solicitation") regarding a portion of its outstanding $116.5 million principal amount of 10-1/2% Senior Subordinated Notes due 2008 (the "Notes") and regarding certain amendments (the "Proposed Amendments") to the indenture governing the Notes, between the Company and the trustee for the Notes (the "Indenture"). The Offer and the Solicitation expired at 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on Friday, December 28, 2001. The terms of the Offer and the Solicitation are more fully described in the Offer to Purchase and Consent Solicitation, dated September 19, 2001, as amended (the "Offer to Purchase"). As of the expiration of the Offer and the Solicitation, the Company had received tenders with respect to $28,825,000 aggregate principal amount of Notes and had received consents (without a tender) with respect to $68,890,000 aggregate principal amount of Notes, representing the consents of the holders of at least a majority in aggregate principal amount of the outstanding Notes. The Company and the trustee for the Notes have executed and delivered a First Supplemental Indenture relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Indenture and effecting the Proposed Amendments. The Company has completed its debt restructuring Debt Restructuring A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in order to achieve some advantage. Notes: which includes an amendment to its existing senior credit facility and a waiver of the default under that facility's fixed charge coverage covenant. The debt restructuring also includes a new mezzanine multi-draw debt term loan facility in the aggregate principal amount of $33,000,000. A portion of the proceeds of the new loan facility is being used to fund the Offer and the Solicitation. Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as exclusive dealer manager and solicitation agent for the Offer and the Solicitation. D.F. King & Co., Inc. acted as information agent for the Offer and the Solicitation. State Street Bank and Trust Company The State Street Bank and Trust Company is a bank. It was a subsidiary of the State Street Corporation, until it sold off the retail banking portion of this unit in 1999 to Citizens Financial Group (a subsidiary of the Royal Bank of Scotland), of Providence, RI. acted as the depositary and tabulation tab·u·late tr.v. tab·u·lat·ed, tab·u·lat·ing, tab·u·lates 1. To arrange in tabular form; condense and list. 2. To cut or form with a plane surface. adj. Having a plane surface. agent for the Offer and the Solicitation. Questions concerning the Offer and the Solicitation may be directed to Banc of America Securities LLC, attention of Henk Bouhuys at 704/388-2842 or 888/292-0070. Located in Davie, FL, Moll Industries, Inc. (a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. ) is a leading full service manufacturer and designer of custom molded and assembled plastic components for a broad variety of customers and end markets throughout North America, Europe and Brazil. |
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