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Actuant Announces Completion Of Tender Offer And Consent Solicitation For Its 6.875% Senior Notes Due 2017 And Redemption Of 2% Senior Subordinated Convertible Notes Due 2023

Stocks in this article: ATU

Actuant Corporation (NYSE: ATU) today announced the completion of its previously announced tender offer and consent solicitation for its 6.875% Senior Notes due 2017 (the “Existing Notes”) and redemption of 2% Senior Subordinated Convertible Notes due 2023 (the “Convertible Notes”).

On April 16, 2012, Actuant accepted for purchase and payment $228,664,000 of the aggregate principal amount of the Existing Notes that were validly tendered and not withdrawn at or prior to 5:00 p.m., New York City time, on April 13, 2012. No additional Existing Notes were validly tendered after 5:00 p.m., New York City time, on April 13, 2012, and prior to the expiration of the tender offer and consent solicitation at 12:00 midnight, New York City time, on April 27, 2012. The Existing Notes tendered represent 91.47% of the aggregate principal amount of the Existing Notes outstanding prior to the launch of the tender offer and consent solicitation.

Actuant also announced today that it intends to irrevocably call for redemption on June 15, 2012, the $21,336,000 principal amount of the Existing Notes that remain outstanding, and intends to deposit with the trustee under the indenture governing the Existing Notes an amount of funds sufficient to redeem such Existing Notes on the redemption date, including all accrued and unpaid interest to the date of redemption. The notice of redemption will be mailed to the holders of the Existing Notes on or after May 15, 2012.

In addition, Actuant has completed the previously announced redemption of the Convertible Notes with substantially all of the holders converting the Convertible Notes into Actuant common shares prior to the expiration of the redemption period.

Wells Fargo Securities, BofA Merrill Lynch and J. P. Morgan acted as Dealer Managers and Solicitation Agents for the tender offer and consent solicitation, and D.F. King & Co. acted as tender agent and information agent.

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