Viasystems Group, Inc. (NASDAQ: VIAS) (the “Company” or “Viasystems”) announced today the results of its wholly owned subsidiary Viasystems, Inc.’s consent solicitation (the “Consent Solicitation”) with respect to its 7.875% Senior Notes Due 2019 (the “Notes”) to amend the indenture for the Notes (the “Proposed Amendment”) to allow Viasystems, Inc. to complete the sale of not more than $50.0 million in aggregate principal amount of additional notes (the “Additional Notes”) under the indenture (the “Proposed Financing”). The Company confirms that, as announced, the Consent Solicitation expired on April 9, 2014 (the “Expiration Date”).
Viasystems, Inc. accepted consents of $550 million
Notes representing 100% of the Notes. On effectiveness of the supplemental indenture containing the Proposed Amendment and satisfaction or waiver of all the conditions described in the Consent Solicitation Statement (defined below), Viasystems, Inc. will pay a consent fee to the holders of the Notes whose valid consents were received by the information and tabulation agent prior to the Expiration Date. The consent fee is equal to $2.50 in cash for each $1,000 in principal amount of the Notes with respect to which a holder of the Notes consents.
After payment of the consent fee, the supplemental indenture containing the Proposed Amendment will become operative on April 15, 2014.
This press release is neither an offer to purchase nor a solicitation of an offer to sell the Additional Notes and does not set forth all the terms and conditions of the Consent Solicitation. Holders of the Notes should carefully read the consent solicitation statement, dated April 1, 2014 (the “Consent Solicitation Statement”), for a complete description of all terms and conditions of the Consent Solicitation. The Company did not make any recommendation as to whether any holder of the Notes should consent to the Proposed Amendment. Additional information concerning the terms and conditions of the Consent Solicitation, may be obtained from the solicitation agents, Wells Fargo Securities, LLC, at (866) 309-6316 (toll free) or Stifel, Nicolaus & Company, Incorporated, at (855) 300-7142 (toll free). Copies of the consent documents may be obtained from the Information and Tabulation Agent, D.F. King & Co., Inc., at (800) 290-6427 (toll free).