American Roads Alabama Holdings, LLC Announces Commencement of Tender Offer for Bonds Issued by American Roads LLC

NEW YORK, Sept. 10, 2013 /PRNewswire/ -- American Roads Alabama Holdings, LLC (the "Company") announced today that it has commenced an offer to purchase for cash (the "Offer") any and all of the outstanding Series G-1 Senior Secured Bonds (the "Series G-1 Bonds") and the outstanding Series G-2 Senior Secured Bonds (the "Series G-2 Bonds" and together with the Series G-1 Bonds, the "Bonds") issued by its predecessor in interest, American Roads LLC ("American Roads"), on the terms and subject to the conditions set forth in the Offer to Purchase, dated September 10, 2013, and the related Letter of Transmittal and Release (together, the "Offer Documents").

The Offer will expire at 11:59 p.m., New York City time, on October 7, 2013, unless extended or earlier terminated by the Company (such date and time, as the same may be modified, the "Expiration Date"). Bonds tendered may be not withdrawn.

The total consideration to be paid for each $1,000 principal amount of Bonds validly tendered prior to the Expiration Date will be $200.00. All amounts payable will be rounded to the nearest cent. Holders whose Bonds are purchased in the Offer will not receive any accrued and unpaid interest or principal on the purchased Bonds or any payments on the related financial guaranty insurance policy. Acceptance of the Offer by bondholders is made in exchange for a full waiver and release of any and all claims, rights, remedies or causes of action such bondholder may have against the certain parties affiliated with the Company.

The Company's obligation to accept for purchase, and to pay for, Bonds validly tendered pursuant to the Offer is conditioned upon the satisfaction or, when applicable, waiver of certain conditions, which are more fully described in the Offer Documents.

Copies of the Offer Documents are available to bondholders from Georgeson Inc., the information agent for the Offer. Requests for copies of the Offer Documents should be directed to Georgeson Inc. at (877) 797-1153 (toll free) or americanroads@georgeson.com. Computershare Trust Company, N.A. will be acting as the depositary for the Offer.

The Offer is made pursuant to a Joint Prepackaged Chapter 11 Plan filed under chapter 11 of the United States Bankruptcy Code and confirmed by the United States Bankruptcy Court for the Southern District of New York and is exempt from securities laws pursuant to the United States Bankruptcy Code. 

Neither the Offer nor the Offer Documents has been approved or disapproved by the Securities and Exchange Commission (the "SEC"), nor has the SEC passed upon the fairness or merits of the Offer or upon the accuracy or adequacy of the information contained in the Offer Documents.  Any representation to the contrary is a criminal offense.

The Offer is being made solely on the terms and conditions set forth in the Offer Documents. Under no circumstances shall this press release constitute an offer to buy or the solicitation of an offer to sell the Bonds or any other securities of the Company or American Roads. No recommendation is made as to whether holders of Bonds should tender their Bonds. Holders of Bonds should carefully read the Offer Documents because they contain important information, including the various terms and conditions of the Offer.

 

 

SOURCE American Roads Alabama Holdings, LLC



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