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Article: Wolverine Tube Extends Exchange Offer.(News)(Wolverine Tube )(Brief article)
- Article from:
- High Yield Report
- Article date:
- April 27, 2009
- Author:
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Byline: Matthew Sheahan
Wolverine Tube extended the exchange offer on its 10.5% senior notes due 2009, the Huntsville, Ala.-based company announced today. Wolverine moved the new deadline to April 27 from April 20 and said it had sufficient tenders to consummate the offer and refinance its existing debt.
This is the forth extension of the deadline. The exchange offer was first announced Feb. 25, and the company revised the terms of the offer April 2, by increasing the cash exchange fee to 3% from 2% of the principal amount of existing notes tendered.
Bondholders representing $83.2 million of the existing notes have tendered so far. In total, ...