Allied and AWNA are soliciting consents from security holders of record as of 5:00 p.
Allied and AWNA are offering to pay to each holder who validly delivers its consent prior to the expiration of the solicitation and does not revoke such consent a payment of $1.
The amendment to each supplemental indenture which will modify the reporting obligations of Allied under the Supplemental Indentures will become effective following the execution of a supplemental indenture by and among Allied, AWNA
, the Guarantors named therein and the trustee.
The Tender Offer is contingent upon the satisfaction of certain conditions, including (a) the Notes Offering having been consummated, including the raising of approximately $750 million in gross proceeds by AWNA
from the Notes Offering, and (b) the receipt of requisite consents in order to adopt the proposed amendments to the indenture governing the 2008 Notes.
As a result, it is expected that both the BFI debentures and the AWNA senior notes will become senior unsecured obligations of the company subsequent to the merger.
Once the merger has closed, Fitch will review the ratings of AW, AWNA and BFI and resolve the Rating Watches.
AWNA intends to use the proceeds from the proposed sale of these senior notes to purchase its 8.
The senior notes being offered by AWNA will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The Issuer Default Rating (IDR) for AWNA
is 'B' and the Rating Outlook is Stable.
The senior notes being offered by AWNA
in the Notes Offering will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
intends to use the proceeds from the proposed sale of these senior notes to redeem its $600 million of 7 5/8% senior notes due January 2006 pursuant to AWNA
's previously announced tender offer.
Under the terms of the offer, AWNA
is offering to purchase the outstanding 7 5/8% Notes for a tender consideration of $1,016.