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Spirit AeroSystems Receives The Requisite Consents Pursuant To Its Tender Offer And Consent Solicitation For Its Outstanding 7 1/2% Senior Notes Due 2017

Stocks in this article: SPR

WICHITA, Kan., March 17, 2014 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. (NYSE: SPR) announced today the interim results of the previously announced tender offer and consent solicitation by its wholly-owned subsidiary Spirit AeroSystems, Inc. (the "Company"), for its 7 ½% Senior Notes due 2017 (the "Notes"). As of 5:00 pm, New York City time, on March 17, 2014 (the "Consent Date"), $227,160,000 aggregate principal amount of the Notes had been tendered and the related consents delivered.

Spirit AeroSystems logo.

Pursuant to the terms of the tender offer, the Company will accept for payment all Notes validly tendered (and not validly withdrawn) prior to the Consent Date, and holders who tendered such Notes will receive $1,041.25 per $1,000 in principal amount of Notes validly tendered, plus accrued and unpaid interest up to, but not including, the payment date for such Notes, which is expected to be tomorrow, March 18, 2014.

The tender offer will expire at 11:59 p.m., New York City time, on March 31, 2014, unless extended (such date and time, as the same may be extended, the "Expiration Date"). Holders who validly tender their Notes after the Consent Date and before the Expiration Date will be eligible to receive $1,011.25 per $1,000 principal amount of Notes, plus accrued and unpaid interest up to, but not including, the final settlement date, which is expected to be the next business day after the Expiration Date.

Based on the consents received, the Company and the trustee under the indenture governing the Notes will enter into a supplemental indenture that would amend the indenture governing the Notes to eliminate most of the covenants and certain default provisions applicable to the Notes.  The supplemental indenture, which will become operative once Notes tendered prior to the consent expiration have been accepted for payment, will be binding on the holders of Notes not purchased in the tender offer.  

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