Maximum bond buy back over subscribed

Maxim Crane Works has announced the results of its cash repurchase offer for up to $132.4 million of its outstanding 10.125 percent Second Priority Senior Secured Notes maturing in 2024 - see: Maximum in bond buy back.

A total of $184.7 million or 33.9 percent of the outstanding notes were validly tendered, the company set a clearing price of $1,027.50 per $1,000 of principal based on the prices tendered in the Dutch auction. In total $132.39 million worth of notes were tendered at or below that price.

Holders whose notes have been accepted for purchase will receive $1,027.50 per $1,000 principal amount/face value, which includes the Early Tender Premium of $30.00 per $1,000. The settlement date is today.


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