Interpool, Inc. Receives Requisite Consents from Holders of 6.00% Senior Notes Due 2014
July 03 2007 - 6:20PM
Business Wire
Interpool, Inc. (NYSE: IPX) announced today that it received, as of
5:00 p.m., New York City time, on July 3, 2007, tenders and
consents from holders of approximately $229 million aggregate
principal amount of its outstanding 6.00% Senior Notes due 2014
(the �Notes�), representing over 99% of the total outstanding
principal amount of the Notes, pursuant to its previously announced
tender offer and consent solicitation for the Notes. The consents
received exceeded the amount needed to approve the adoption of the
proposed amendments to the indenture under which the Notes were
issued. The terms of the tender offer and consent solicitation,
including the proposed amendments to the indenture governing the
Notes, are described in the Offer to Purchase and Consent
Solicitation Statement dated June 13, 2007, as amended (the �Tender
Offer Documents�). Based on the consents received, the company
expects to execute a supplemental indenture as soon as practicable.
When executed, the supplemental indenture will be effective, but
the proposed amendments to eliminate most of the restrictive
covenants and events of default in the indenture and the Notes will
not become operative unless and until Notes are accepted for
purchase by the company pursuant to the tender offer. Notes may be
tendered pursuant to the tender offer until 8:00 a.m., New York
City time, on July 19, 2007, unless extended (the �Expiration
Date�). Holders who validly tender Notes after 5:00 p.m., New York
City time, on July 3, 2007 but prior to the Expiration Date will,
if such Notes are accepted for purchase pursuant to the tender
offer, receive $1,027.00 per $1,000 principal amount of the Notes
(the �Tender Offer Consideration�), plus accrued but unpaid
interest to, but not including, the date of payment for the Notes
so tendered. Completion of the tender offer remains subject to the
satisfaction of certain conditions, including, but not limited to,
receipt by Interpool of the funds necessary to make all payments
required to complete the tender offer, including interest and other
costs and expenses related to the tender offer, and the
satisfaction or waiver of all conditions precedent to the
consummation of the merger of Interpool and Chariot Acquisition
Sub, Inc., an indirect wholly owned subsidiary of funds managed by
affiliates of Fortress Investment Group LLC (the �Merger�), and the
expectation that the Merger will be consummated immediately
following the Expiration Date. The exclusive dealer manager and
solicitation agent for the tender offer and consent solicitation is
Bear, Stearns & Co. Inc (�Bear Stearns�). Questions regarding
the tender offer may directed to Bear Stearns at (877) 696-BEAR
(toll free) or (212)�272-5112 (collect). The tender agent for the
tender offer is D.F. King & Co., Inc. Requests for Tender Offer
Documents may be directed to D.F. King & Co., Inc., as
information agent for the tender offer, at 48 Wall Street, 22nd
Floor, New York, New York 10005. The information agent may be
contacted at (212) 269-5550 (for banks and brokers only) and (888)
628-8208 (for all others toll free). This release does not
constitute an offer to purchase, a solicitation of an offer to sell
or a solicitation of consents with respect to any securities. The
tender offer is being made solely by the Statement. ABOUT
INTERPOOL, INC. Interpool is one of the world�s leading suppliers
of equipment and services to the transportation industry. It is the
world�s largest lessor of intermodal container chassis and a
world-leading lessor of cargo containers used in international
trade. CAUTIONARY STATEMENTS This press release contains certain
forward-looking statements regarding future circumstances. These
forward-looking statements are subject to risk and uncertainties
that could cause actual results to differ materially from those
contemplated in such forward-looking statements, including in
particular the risks and uncertainties described in Interpool�s SEC
filings. The company undertakes no obligation to publicly release
any revisions to these forward-looking statements to reflect events
or circumstances after the date hereof. Note: This press release
and other press releases and information can be viewed at
Interpool�s website at www.interpool.com.
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