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A. M. Castle Announces Expiration Of Exchange Offer

Stocks in this article: CAS

OAK BROOK, Ill., July 11, 2012 /PRNewswire/ -- A. M. Castle & Co. (NYSE: CAS) (" A. M. Castle" or the "Company") a global distributor of specialty metal and plastic products, value-added services and supply chain solutions, today announced the expiration and results of its offer to exchange (the "Exchange Offer") $225,000,000 principal amount of 12.75% Senior Secured Notes due 2016, which are registered under the Securities Act of 1933 (the "new notes"), for $225,000,000 principal amount of outstanding 12.75% Senior Secured Notes due 2016, which have not been registered under the Securities Act of 1933 (the "old notes").  The Exchange Offer expired at 11:59 p.m., Eastern time, on Tuesday, July 10, 2012.  U.S. Bank National Association, the exchange agent for the Exchange Offer, has advised that an aggregate principal amount of $224,900,000 of the old notes were validly tendered and not validly withdrawn prior to the expiration of the Exchange Offer.  This represents approximately 99.9 percent of the aggregate principal amount of old notes outstanding upon commencement of the Exchange Offer.  All of the old notes validly tendered and not validly withdrawn have been accepted for exchange pursuant to the terms of the Exchange Offer.

In connection with the issuance of the old notes, the Company entered into a registration rights agreement in which it undertook to offer to exchange the old notes for the new notes registered under the Securities Act.  Pursuant to an effective registration statement on Form S-4 filed with the Securities and Exchange Commission (the "SEC"), holders were able to exchange the old notes for new notes in an equal principal amount.  The terms of the new notes are identical in all material respects to the old notes, except that the new notes have been registered under the Securities Act, will not have any of the transfer restrictions, registration rights or additional interest provisions relating to the old notes and will bear a different CUSIP number than the old notes.  The Company expects that settlement of the Exchange Offer will occur promptly.  The Company will not receive any proceeds from the Exchange Offer.

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