Worthington Industries Completes Tender Offer for Notes
06/10/2009 - Worthington Industries completes its previously announced cash tender offer for the $138.0 million of its 6.70% Notes due December 1, 2009.
Worthington Industries, Inc. has completed its cash tender offer for any and all of the $138.0 million of its 6.70% Notes due December 1, 2009.
The company accepted for purchase $118.5 million of the Notes, representing 85.9% of the outstanding Notes. The consideration paid for the Notes will be $1,025 per $1,000 principal amount of Notes, plus accrued and unpaid interest to, but not including, June 12, 2009.
Wachovia Securities served as Dealer Manager for the Tender Offer. D.F. King & Co., Inc., served as Tender Agent and Information Agent for the Tender Offer.
Worthington Industries is a leading diversified metal processing company with annual sales of approximately $3 billion. The Columbus, Ohio, based company is a value-added steel processor and a leader in manufactured metal products such as metal framing, pressure cylinders, automotive past model service stampings, metal ceiling grid systems and laser welded blanks. Worthington employs approximately 7000 people and operates 60 manufacturing facilities in 10 countries.
Founded in 1955, the company operates under a long-standing corporate philosophy rooted in the golden rule, with earning money for its shareholders as the first corporate goal. This philosophy, an unwavering commitment to the customer, and one of the strongest employee/employer partnerships in American industry serve as the company’s foundation.
