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Article: Fleetwood Announces Exchange Offer for Its 5% Debentures With Terms That Preserve Liquidity and Minimize Dilution.
- Article from:
- Investment Weekly News
- Article date:
- November 15, 2008
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Fleetwood Enterprises, Inc. (NYSE:FLE) announced that it is commencing a registered exchange offer for its existing $100 million principal amount of 5% convertible senior subordinated debentures. Holders have the right to require Fleetwood to repurchase the debentures at par on December 15, 2008. The exchange offer proposes terms for new senior secured notes due 2011 that are guaranteed by certain Fleetwood subsidiaries, together with the issuance of common stock. Separately, the Company announced it has received notification from the New York Stock Exchange of non-compliance with the NYSE's minimum share price standard.
The Exchange Offer: Preserving Liquidity ...