Sep. 16, 2009 (Business Wire) -- MeadWestvaco Corporation (NYSE: MWV) (“MeadWestvaco”, “MWV” or the “Company”) today announced the results of its previously announced cash tender offer (the “Tender Offer”) for its 6.85% Notes Due 2012 (the “Notes”).
The Tender Offer expired at 5:00 p.m., New York City time, on September 15, 2009 (the “Expiration Date”). According to information provided by the depositary, $314,076,000 aggregate principal amount of the Notes were validly tendered and not withdrawn by the Expiration Date.
The Company has accepted for purchase all Notes validly tendered and not validly withdrawn by the Expiration Date. This will result in an aggregate purchase price for Notes of approximately $345.9 million, representing the aggregate Full Tender Offer Consideration for the Notes and the applicable accrued and unpaid interest on the Notes to be paid by the Company on the settlement date for the Tender Offer, which is expected to be September 16, 2009. After settlement of the Tender Offer, $318,799,000 aggregate principal amount of Notes not held by the Company or its affiliates will remain outstanding.
Citi and UBS Securities LLC acted as lead dealer managers for the Tender Offer. Global Bondholder Services Corporation acted as the depositary and information agent.
About MWV
MeadWestvaco Corporation (NYSE: MWV), provides packaging solutions to many of the world’s most-admired brands in the healthcare, beauty and personal care, food, beverage, media and entertainment, home and garden, tobacco, and commercial print industries. The Company’s businesses also include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the Company’s land holdings to support its operations, and to provide for conservation, recreation and development opportunities. With 21,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the sixth consecutive year.
Forward-looking Statements
Certain statements in this document and elsewhere by management of the Company that are neither reported financial results nor other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the Company.
