Plastipak Holdings, Inc. Announces Redemption Of Senior Notes Due 2019

PLYMOUTH, Mich., Oct. 14, 2013 /PRNewswire/ -- Plastipak Holdings, Inc. ("Plastipak") announced today the full redemption of all outstanding 10 5/8% Senior Notes due 2019 (the "Notes"), on November 13, 2013 (the "Redemption Date").  The redemption price is 100% of the principal amount of Notes to be redeemed, plus the "Applicable Premium" (as defined in the Indenture), plus accrued and unpaid interest to, but not including, the Redemption Date.  As of October 14, 2013, $21,871,000 aggregate principal amount of Notes are outstanding.

Plastipak has commenced an offer to purchase for cash any and all of its outstanding Notes and related consent solicitation (collectively, the "Tender Offer") pursuant to that certain Offer to Purchase and Consent Solicitation Statement (the "Statement") and related Letter of Transmittal, each dated as of September 23, 2013.  The Tender Offer is scheduled to expire at 11:59 p.m. on October 21, 2013 (the "Expiration Time").  Holders who validly tender and do not withdraw their Notes in the Tender Offer prior to the Expiration Time will be entitled to receive the Tender Offer Consideration as described in the Statement promptly following the Expiration Time.  Any Notes that are not purchased in the Tender Offer and remain outstanding after the Final Payment Date (as defined in the Statement) will be redeemed on the Redemption Date.

Holders owning notes through a broker, bank or other nominee should contact that party for information.  For more information, note holders may call the paying agent for the redemption, Wells Fargo Bank, National Association, at 1-800-344-5128.

About Plastipak Holdings, Inc.

Plastipak is a leading global designer, manufacturer and distributor of rigid plastic packaging containers and preforms for many of the world's largest consumer products companies. For the twelve months ended August 3, 2013, we manufactured and distributed approximately 9.5 billion containers and 12.1 billion preforms worldwide to over 460 customers as we operate in 27 strategic sites across the globe. We have been awarded over 420 U.S. patents (and over 800 foreign patents) for our state-of-the-art package designs and manufacturing processes as technological creativity is our competitive advantage as we deliver innovative choices for consumers while managing their packaging costs and branding their products. Additional information about Plastipak can be found at our website located at www.plastipak.com.

Forward-Looking Statements

Statements in this press release concerning Plastipak's intentions, expectations or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse.  Forward-looking statements speak only as of the time made, and Plastipak assumes no obligation to publicly update any such statements.

SOURCE Plastipak Holdings, Inc.