Alliance One International Announces Expiration of Exchange Offer for 9.875% Senior Secured Second Lien Notes Due 2021
MORRISVILLE, N.C., Dec. 20, 2013 /PRNewswire/ -- Alliance One International, Inc. (NYSE: AOI) today announced the expiration of its offer to exchange up to $735 million of 9.875% Senior Secured Second Lien Notes due 2021 (the "New Notes"), which have been registered under the Securities Act of 1933, as amended, for its outstanding unregistered 9.875% Senior Secured Second Lien Notes due 2021 (the "Original Notes") (CUSIP Nos. 018772 AR4 and U0187P AG1). The exchange offer, which commenced on November 20, 2013, expired at 5:00 p.m., New York City time, on December 20, 2013 (the "expiration time").
As of the expiration time, $730,950,000 aggregate principal amount of outstanding Original Notes had been validly tendered for exchange and not withdrawn, which amount does not include Original Notes for which a notice of guaranteed delivery has been timely received. The Company has accepted all Original Notes validly tendered and not withdrawn. Settlement of the exchange offer is expected to occur on Friday, December 27, 2013.
The Company made the exchange offer to satisfy the its obligations under the terms of the registration rights agreement entered into in connection with the sale of the Original Notes completed on August 1, 2013 and does not represent a new financing transaction. The Company will not receive any proceeds from the exchange offer. The terms of the New Notes are substantially identical to those of the Original Notes, except that certain transfer restrictions, registration rights and additional interest provisions related to the registration rights applicable to the Original Notes do not apply to the New Notes.
This news release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities of Alliance One International, Inc. The exchange offer was made only pursuant to the exchange offer documents, including the prospectus and the letter of transmittal that were distributed to holders of the Original Notes and filed with the Securities and Exchange Commission.
About Alliance One
Alliance One International is a leading independent leaf tobacco merchant serving the world's large multinational cigarette manufacturers.
SOURCE Alliance One International, Inc.