Mohawk Announces Early Tender Results Of Offer To Purchase
CALHOUN, Ga., March 26 /PRNewswire-FirstCall/ -- Mohawk Industries, Inc. (NYSE: MHK) announced today that, as of 5:00 p.m., New York City time, on Friday, March 26, 2010 (the "Early Tender Date"), $300,756,000 aggregate principal amount of notes have been validly tendered and not validly withdrawn in connection with its previously announced cash tender offer to purchase up to $200,000,000 aggregate principal amount (the "Tender Cap") of its outstanding 6.50% senior notes due 2011 (the "Notes") (CUSIP No. 608190AG9 and ISIN No. US608190AG93).
Holders who validly tendered their Notes by the Early Tender Date will receive $1,035.00, payable in cash, for each $1,000 principal amount of Notes accepted for payment, which amount includes an early tender payment of $35.00 per $1,000 of Notes accepted for payment.
The tender offer is scheduled to expire at 11:59 p.m., New York City time, on Friday, April 9, 2010, unless extended (the "Expiration Date").
Because the aggregate principal amount of Notes validly tendered at or prior to the Early Tender Date and not validly withdrawn pursuant to the Offer exceeds the Tender Cap, if we accept Notes for purchase pursuant to the Offer, we will accept such Notes on a pro rata basis (with adjustments downward to avoid the purchase of Notes in a principal amount other than in integral multiples of $1,000).In addition to the consideration described above, accrued and unpaid interest up to, but not including, the settlement date will be paid in cash on all validly tendered and accepted Notes. The settlement date is expected to be on or about April 12, 2010. Mohawk may amend, extend or, subject to certain conditions, terminate the tender offer. The Offer to Purchase dated March 15, 2010 and the related Letter of Transmittal set forth a complete description of the terms and conditions of the tender offer. Holders are urged to read the Offer to Purchase and Letter of Transmittal carefully before making any decision with respect to the Offer. The Offer to Purchase and related Letter of Transmittal were distributed to holders beginning March 15, 2010. Banc of America Securities LLC is serving as the dealer manager for the Offer. Questions about the Offer should be directed to Banc of America Securities LLC, toll-free at (888) 292-0070 or (980) 388-9217 (collect), attention: Debt Advisory Services. The information agent for the Offer is D.F. King & Co. Inc. Requests for additional sets of the Offer materials may be directed to D.F. King & Co. Inc., by calling toll-free at (800) 769-4414 or (212) 269-5550 (collect) for banks and brokers.
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