OVERLAND PARK, Kan., Sept. 19, 2016 /PRNewswire/ -- Lansing Trade Group, LLC and its wholly-owned subsidiary, Lansing Finance Company, Inc. (collectively, the "Company" or "Lansing"), announced today that, as of 5:00 p.m., New York City time, on September 16, 2016 (the "Early Tender Time"), approximately $114.3 million principal amount (or approximately 79.2% of the outstanding principal amount of the Notes, excluding Notes owned by the Company or any of its affiliates) of its 9.25% Senior Notes due 2019 (CUSIP Nos. 51648RAA9 / U5130RAA7) (the "Notes") have been tendered in connection with its previously announced cash tender offer (the "Tender Offer") for any and all outstanding Notes.
The Company also received the requisite consents for the proposed amendments to the indenture governing the Notes (the "Consent Solicitation") to eliminate most of the covenants and certain default provisions applicable to the Notes. The proposed amendments will become operative when the Company accepts Notes for purchase pursuant to the terms of the Tender Offer.
The Tender Offer remains open and is scheduled to expire at 11:59 p.m., New York City time, on September 30, 2016, unless extended or earlier terminated (the "Expiration Time"). The completion of the Tender Offer and Consent Solicitation is subject to the satisfaction or waiver by the Company of a number of conditions, as described in the Offer to Purchase and Consent Solicitation Statement, dated August 16, 2016. Subject to the satisfaction of the remaining conditions, payment for Notes validly tendered in the Tender Offer and accepted purchase by the Company is expected to be made on October 3, 2016.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
Requests for documents relating to the Tender Offer may be directed to Global Bondholder Services Corporation, the Information Agent and Tender Agent, at (212) 430-3774 (for banks and brokers) or (866) 470-3700 (for all others). BofA Merrill Lynch is acting as Dealer Manager for the Tender Offer and Solicitation Agent for the Consent Solicitation. Questions regarding the Tender Offer and Consent Solicitation may be directed to BofA Merrill Lynch at (888) 292-0070 (U.S. toll-free) or (980) 388-3846 (collect).
None of Lansing, its board of managers or board of directors, and the trustee for the Notes (or its Agents), the Information Agent, the Tender Agent, the Dealer Manager and Solicitation Agent or any of their respective affiliates makes any recommendation as to whether holders should tender, or refrain from tendering, all or any portion of the principal amount of their Notes pursuant to the Tender Offer or deliver, or refrain from delivering, any consent to the Proposed Amendments pursuant to the Consent Solicitation.
About Lansing Trade Group
Lansing Trade Group, LLC is a commodity merchandising company largely focused on the movement of physical commodities including grains, feed ingredients and energy products within North America and internationally. Headquartered in Overland Park, Kansas, the Company has offices throughout North America, as well as offices in the United Kingdom and Brazil.
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "estimate," "project," "intend," "expect," "should," "believe" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include any statements regarding the Company's strategic and operational plans. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.
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SOURCE Lansing Trade Group, LLC