Carter's begins tender offer for 10.875% notes due 2011
10 Jun '05
4 min read
TWCC is soliciting consents to certain proposed amendments to eliminate substantially all of the restrictive covenants and certain events of default in the indenture governing the Notes. TWCC is offering to make a consent payment (which is included in the total consideration described above) of $30.00 per $1,000 principal amount of Notes to holders who validly tender their Notes and deliver their consents at or prior to the Consent Payment Deadline, unless extended. Holders may not tender their Notes without delivering consents or deliver consents without tendering their Notes.
The Offer is subject to the satisfaction of certain conditions including: (1) consummation of Carter's previously announced acquisition of OshKosh B'Gosh, Inc.; (2) consummation of the required financing; (3) receipt of consents from holders of a majority of the Notes; (4) execution of the supplemental indenture; and (5) certain other customary conditions. TWCC expects to fund the tender with the proceeds of new senior credit facilities.
Further details of the terms of the Offer are described in the Offer to Purchase and Consent Solicitation Statement dated June 9, 2005 (the "Offer to Purchase"), copies of which may be obtained from Global Bondholder Services Corporation, the information agent for the Offer, at (866) 470-3800 (US toll free) and (212) 430-3774 (collect).
TWCC has engaged Banc of America Securities LLC to act as the exclusive dealer manager athe terms of the Offer are described in the Offer to Purchase and Consent Solicitation Statement dated June 9, 2005 (the "Offer to Purchase"), copies of which may be obtained from Global Bondholder Services Corporation, the information agent for the Offer, at (866) 470-3800 (US toll free) and (212) 430-3774 (collect).
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