Allison Transmission, Inc.(“Allison”), a wholly owned subsidiary of Allison Transmission Holdings, Inc., announced today the final results of its previously announced cash tender offer (the “Offer”) to purchase any and all of its outstanding 7.125% Senior Notes due 2019 (referred to below as the “notes”), as of 11:59 p.m., New York City time, on April 14, 2015 (the “Expiration Time”). As of the Expiration Time, $420,889,000, or 89.31%, of the aggregate principal amount of the notes had been validly tendered and not validly withdrawn. All $420,889,000aggregate principal amount of the notes was tendered at or prior to 5:00 p.m. New York City time on March 31, 2015 (the “Consent Time”), and were accepted for purchase by Allison and settled on April 7, 2015, and no additional notes were tendered after the Consent Time. Currently,$50,374,000 aggregate principal amount of the notes remains outstanding.
Information related to the notes and the aggregate results of the Offer is set forth in the table below.
|
Title of Notes |
CUSIP No. |
Aggregate Principal Amount Outstanding |
Principal Amount Tendered | Percent Tendered of Principal Amount |
| 7.125% Senior Notes due 2019 | 019736AC1 and U01979AC4 | $471,263,000 | $420,889,000 | 89.31% |
The Offer was made upon the terms and conditions included in the Offer to Purchase and Consent Solicitation Statement (the “Offer to Purchase”) and the related Letter of Transmittal and Consent (the “Letter of Transmittal”), each dated as of March 18, 2015.
The previously announced Expiration Time has passed. Accordingly, holders may no longer tender their notes.
Allison has retained Citigroup Global Markets Inc. to serve as dealer manager and solicitation agent for the Offer. Allison has retained Global Bondholder Services Corporation to serve as the depositary and as the information agent for the Offer. Requests for documents may be directed to Global Bondholder Services Corporation by phone at (866) 470-3900 or (212) 430-3774 or in writing at 65 Broadway, Suite 404, New York, New York 10006. Questions regarding the Offer may be directed to Citigroup Global Markets Inc. at (800) 558-3745 or collect at (212) 723-6106.
Following the expiration of the Offer, Allison issued a notice of redemption, dated as of April 15, 2015 (the “Notice”), with respect to the notes that remain outstanding following consummation of the Offer. Pursuant to the Notice, Allison gave holders of the notes notice that it will redeem all of the outstanding notes on May 15, 2015 (the “Redemption Date”). The notes, which have an outstanding principal balance of $50,374,000, will be redeemed in full at a redemption price equal to 103.563% of the principal amount thereof, plus any accrued and unpaid interest thereon, if any, to but not including the Redemption Date.
