NEW YORK, June 16, 2011 /PRNewswire/ -- Harbinger Group Inc. (NYSE: HRG) (the "Company") today announced the expiration of its exchange offer for any and all of its outstanding $350,000,000 in aggregate principal amount of 10.625% Senior Secured Notes due 2015 (CUSIP Nos. 41146AAA4 and U24520AA3) (the "Original Notes"), which were issued on November 15, 2010, in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), for an equal principal amount of a new issue of 10.625% Senior Secured Notes due 2015 (CUSIP No. 41146AAB2) (the "New Notes"), which have been registered under the Securities Act pursuant to an effective registration statement on Form S-4 filed with the Securities and Exchange Commission. The exchange offer expired at 5:00 p.m., New York City time on June 10, 2011.
Wells Fargo Bank, National Association, the exchange agent for the exchange offer, has advised the Company that $349,998,000 aggregate principal amount of the Original Notes were validly tendered and not validly withdrawn prior to the expiration of the exchange offer, which represents 99.99% of the aggregate principal amount of outstanding Original Notes. The Company has accepted for exchange all of the Original Notes that were validly tendered and not validly withdrawn, and expects to complete the exchange offer promptly.
This news release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any security. The exchange offer is being made only pursuant to the exchange offer documents, including the prospectus and letter of transmittal that were distributed to the holders of the Original Notes and were filed with the Securities and Exchange Commission.
About Harbinger Group Inc.
Harbinger Group Inc. (the "Company") is a diversified holding company. The Company's principal operations are conducted through subsidiaries that offer life insurance and annuity products, and branded consumer products such as batteries, pet supplies, home and garden control products, personal care and small appliances. The Company focuses on opportunities in these sectors as well as financial products, telecommunications, agriculture, power generation and water and natural resources. For more information on the Company, please see the Company's website at www.harbingergroupinc.com.
SOURCE Harbinger Group Inc.