(Source: PRNewswire-FirstCall)
TORONTO, March 26 /PRNewswire-FirstCall/ -- Celestica Inc. ("Celestica") (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced the expiration of its previously announced modified "Dutch Auction" tender offer (the "Offer") for a portion of its outstanding 7.875% Senior Subordinated Notes due 2011 (the "Notes") and released information regarding final results of the Offer.
The Offer expired today at 5:00 p.m., New York City time with valid tenders (that were not validly withdrawn) by holders of $419.7 million in aggregate principal amount of Notes in connection with the Offer. Celestica accepted for purchase $150,000,000 in aggregate principal amount of Notes, which is an amount equal to the Tender Cap (as defined in the Offer to Purchase). Because the Offer was oversubscribed, Celestica accepted all Notes tendered below the Clearing Price (as defined in the Offer to Purchase) and accepted Notes tendered at the Clearing Price on a pro rata basis, as provided in the Offer to Purchase with a proration factor of 61.89%.
Holders, whose Notes have been accepted for purchase and who tendered such Notes at, or before, the Early Tender Date of 5:00 p.m., New York City Time, on March 11, 2009, will receive $1,000 per $1,000 principal amount of the Notes that Celestica accepts for purchase, which includes the Early Tender Premium of $20 per $1,000 principal amount. Holders, whose Notes have been accepted for purchase and who tendered such Notes after the Early Tender Date but at, or before, the expiration of the Offer, will receive $980 per $1,000 principal amount of the Notes that Celestica accepts for purchase. Holders of Notes accepted for purchase will also be paid any accrued and unpaid interest on such Notes calculated up to, but excluding, the date of payment (the "Settlement Date"). The Settlement Date for the Offer is expected to be March 27, 2009.
All Notes purchased in the Offer will be retired. All Notes tendered but not accepted for purchase, including Notes not accepted for purchase because of proration, will be returned promptly to the holders of such Notes at the expense of Celestica and will remain outstanding.
Banc of America Securities LLC, Global Debt Advisory Services, was the Dealer Manager for the Offer. Global Bondholder Services Corporation was the depositary and information agent. Questions regarding the Offer may be directed to Banc of America Securities LLC at 888-292-0070 (U.S. toll-free) and 704-388-9217 (collect). Copies of the Offer to Purchase and Letter of Transmittal may be obtained from Global Bondholder Services Corporation at 866-389-1500 (U.S. toll-free) and 212-430-3774 (collect).
