Harsco Corporation Announces Withdrawal of Proposed Public Offering of $250 Million of Senior Notes
06/11/2015 - Harsco Corporation announced that it has withdrawn its previously announced public offering of $250 million aggregate principal amount of senior notes due 2020 (the "Notes") in response to market conditions.
As a result of its decision not to proceed with its senior notes offering, the Company also announced that it has terminated its previously announced cash tender offer (the "Tender Offer") for any and all of its outstanding 2.700% Senior Notes due 2015 (the "2015 Notes").
Any of the 2015 Notes that have been tendered will be promptly returned to the holders thereof. The Company continues to have adequate liquidity of approximately $400 million.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Tender Offer was being made solely pursuant to the Offer to Purchase dated as of June 1, 2015, the related Letter of Transmittal and the Notice of Guaranteed Delivery, as amended by this press release, which set forth the complete terms of the Tender Offer.
Any of the 2015 Notes that have been tendered will be promptly returned to the holders thereof. The Company continues to have adequate liquidity of approximately $400 million.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Tender Offer was being made solely pursuant to the Offer to Purchase dated as of June 1, 2015, the related Letter of Transmittal and the Notice of Guaranteed Delivery, as amended by this press release, which set forth the complete terms of the Tender Offer.
Harsco's diversified services and engineered products serve major industries that are fundamental to worldwide economic progress, including steel and metals production, railways and energy. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell
2000 Index. Additional information can be found at www.harsco.com.
