(Source: PRNewswire-FirstCall)
ATLANTA, May 28 /PRNewswire-FirstCall/ -- Interface, Inc. (the "Company"), the world's largest manufacturer of modular carpet, today announced that it has commenced a private offering of $150,000,000 aggregate principal amount of senior secured notes due 2013. The notes will be secured by a second-priority lien on substantially all of the Company's and certain of the Company's material U.S. subsidiaries' assets that secure the Company's domestic revolving credit facility on a first-priority basis. The net proceeds from the sale of the notes will be used in connection with the repurchase, repayment or other discharge of all of the Company's $141,803,000 aggregate principal amount of outstanding 10.375% Senior Notes due 2010, for which the Company is conducting a tender offer that commenced on May 14, 2009 and is scheduled to expire at 11:59 P.M., Eastern Time, on June 11, 2009, unless extended by the Company.
The notes are being sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in reliance on Regulation S under the Securities Act. The notes have not been registered under the Securities Act or any state securities laws. Therefore, the notes may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release is issued pursuant to and in accordance with Rule 135c under the Securities Act.
Interface, Inc. is the world's largest manufacturer of modular carpet, which it markets under the InterfaceFLOR(R), FLOR(TM), Heuga(R) and Bentley Prince Street(R) brands, and, through its Bentley Prince Street brand, enjoys a leading position in the designer quality segment of the broadloom carpet market. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the other matters set forth in this news release are forward-looking statements.
