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JLG Accepts for Purchase Its 2008 and 2012 Senior Notes
McConnellsburg, Pa.-based JLG Industries last week announced that it accepted for purchase pursuant to its offers to purchase and consent solicitations, all of its 8 1/4 -percent senior notes due 2008, and its 8 3/8-percent senior subordinated notes due 2012 that were tendered to JLG pursuant to such offers.
With respect to the 2008 notes, an aggregate principal amount of $87.4 million were tendered and accepted for purchase, and with respect to the 2012 notes, an aggregate principal amount of $112.9 million were tendered and accepted for purchase. Each holder of $1,000 principal amount of the 2008 notes will receive an aggregate cash payment of approximately $1,008.29, plus accrued and unpaid interest, and each holder of $1,000 principal amount of the 2012 notes will receive an aggregate cash payment of approximately $1,024.84, plus accrued and unpaid interest. Notes tendered with consents on or before 5 p.m., New York City time, on Nov. 21, 2006, will also receive a consent payment of $30 per $1,000 principal amount of such notes.
JLG made the tender offers as required by the Agreement and Plan of Merger dated Oct. 15, 2006, by and among JLG, Oshkosh Truck Corp. and Steel Acquisition Corp., a wholly owned subsidiary of Oshkosh.
The depositary for the offers was The Bank of New York. The dealer managers for the offers and consent solicitation agents for the consent solicitations were J.P. Morgan Securities and Banc of America Securities LLC.
JLG Industries is an international producer of access equipment.
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© 2008 Penton Media Inc.
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