Tekni-Plex, Inc. Announces Expiration Of Change Of Control Offer To Purchase Its 9.750% Senior Secured Notes Due 2019

Jan 13, 2014, 16:11 ET from Tekni-Plex, Inc.

KING OF PRUSSIA, Pa., Jan. 13, 2014 /PRNewswire/ -- Tekni-Plex, Inc. (the "Company") today announced the expiration of its previously announced offer to purchase (the "Offer") any and all of its outstanding 9.750% senior secured notes due 2019 (the "Notes"). The Offer was made solely to fulfill the Company's obligations under the indenture governing the Notes following the consummation on December 13, 2013 of the previously announced merger (the "Merger") with an affiliate of American Securities LLC, which resulted in a "Change of Control" giving the holders of the Notes the right to require the Company to purchase all or a portion of such holders' Notes at a purchase price of 101% of the principal amount thereof, plus any accrued and unpaid interest up to, but not including, the date of purchase.

The Offer was commenced on December 13, 2013 and expired at 5:00 P.M., New York City Time, on Friday, January 10, 2014 (the "Expiration Date"). As of the Expiration Date, $74,000 in aggregate principal amount of the Notes (representing approximately 0.02% of the outstanding Notes) had been delivered for repurchase pursuant to the Offer.  Payment for the tendered notes will occur on January 15, 2014.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities.

About Tekni-Plex, Inc.

Tekni-Plex, Inc. is a global manufacturer of technically-sophisticated products and components engineered to meet critical customer needs in niche applications. The Company operates in three segments: Healthcare, Specialty Packaging and Food Packaging. Tekni-Plex's primary products include closure liners, medical tubing, high-barrier pharmaceutical films, medical compounds, dispensing components and thermoformed containers.   The Company is headquartered in King of Prussia, PA and operates 25 manufacturing facilities across nine countries worldwide to meet the needs of its global customers. For more information on the capabilities of Tekni-Plex, visit www.tekni-plex.com or call the Company at (484) 690-1520.

Contact:
Graham Sayers
Executive Vice President &
Chief Financial Officer
Graham.Sayers@Tekni-Plex.com

SOURCE Tekni-Plex, Inc.



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http://www.tekni-plex.com