Lear Tenders for Notes

They're due in 2008 and 2009.
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Lear

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, a provider of automotive interior systems, said Tuesday it is commencing a tender offer for up to $850 million aggregate principal amount of its 8.125% senior notes due 2008, of which euro 237 million is outstanding, and its 8.11% senior notes due 2009, of which $593 million is outstanding. The tender offer will expire at midnight, New York City time, on Dec. 19, unless extended.

Lear is offering to purchase for cash at a purchase price of euro 1,045 per euro 1,000 principal amount at maturity plus accrued interest any and all 2008 notes that are validly tendered and not withdrawn on or prior to 5:00 p.m., New York City time, on Dec. 5, unless extended.

The purchase price for any 2008 notes validly tendered after Dec. 5 and prior to the expiration of the tender offer is euro 1,025 per euro 1,000 principal amount at maturity plus accrued interest.

The company is concurrently offering to purchase for cash, at a purchase price of $1,055 per $1,000 principal amount at maturity plus accrued interest, 2009 notes that are validly tendered and not withdrawn on or prior to 5:00 p.m., New York City time, on Dec 5, unless extended.

The purchase price for any 2009 notes validly tendered after Dec. 5 and prior to the expiration of the tender offer is $1,035 per $1,000 principal amount at maturity plus accrued interest.

The tender offer for the 2009 notes will be in an aggregate amount such that the aggregate principal amount of 2008 notes and 2009 notes purchased in the tender offer will not exceed an aggregate maximum tender offer amount of $850 million.

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