PITTSBURGH, May 4, 2017 /PRNewswire/ -- Michael Baker International, LLC ("Michael Baker International") announced today that it has terminated its previously announced tender offer to purchase for cash (the "Tender Offer") any and all of the $350 million aggregate principal amount outstanding of its 8.250% Senior Secured Notes due 2018 (the "Notes") issued by it and Michael Baker International Holdco Corporation (formerly known as Michael Baker Corporation, as successor by merger to CDL Acquisition Co. Inc.) and a solicitation of consents (the "Consent Solicitation") for proposed amendments to the related indenture. All Notes that have been validly tendered (and not validly withdrawn) will be returned promptly to the respective holders thereof without any action required on the part of the holders. No consideration will be paid in the Tender Offer for any tendered Notes or the Consent Solicitation for any consents. Accordingly, the amendments that are contained in the supplemental indenture that was executed in connection with the Consent Solicitation will not become operative.
Consummation of the Tender Offer and the Consent Solicitation were subject to the satisfaction or waiver of the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated as of April 7, 2017 (the "Offer to Purchase and Consent Solicitation Statement"), including the financing condition described therein, certain of which were not satisfied. This press release confirms the termination of the Tender Offer and Consent Solicitation.
This news release is neither an offer to purchase nor a solicitation of an offer to sell any Notes. Persons with questions regarding the Tender Offer and the Consent Solicitation should contact the dealer manager —Barclays Capital Inc. at (800) 438-3242 (toll free) or (212) 528-7581 (collect) — or the Information Agent, D.F. King & Co., at (888) 644-6071 (toll free) or (212) 269-5550 (collect).
Michael Baker International is a global leader in engineering, planning, consulting, and professional services. Supported by approximately 6,750 employees in 90 offices worldwide, Michael Baker International provides the full continuum of engineering, consulting, base operations, security management, systems integration, intelligence operations support and analysis, and information technology solutions.
Contact: Justin Falce
Some of the statements in this release may constitute forward-looking statements. Such statements are based on Michael Baker International's current expectations and could be affected by numerous factors and are subject to various risks and uncertainties. Do not rely on any forward-looking statement, as Michael Baker International cannot predict or control many of the factors that ultimately may affect Michael Baker International's ability to achieve any expected results. Michael Baker International makes no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
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SOURCE Michael Baker International, LLC