Xerium Announces Exchange Offer to Exchange Its Unregistered 9.500% Senior Secured Notes Issued in August 2016 for Registered...
December 16 2016 - 5:23PM
Business Wire
Xerium Technologies, Inc. (NYSE:XRM), a leading global provider
of industrial consumable products and services, today announced a
plan to exchange $480 million aggregate principal amount of its
outstanding 9.500% Senior Secured Notes due 2021 (“old notes”) for
a like principal amount of 9.500% Senior Secured Notes due 2021
(“new notes”) that have been registered under the Securities Act of
1933, as amended (the “Securities Act”). The new notes are
identical in all material respects to the outstanding old notes,
except that the exchange notes will be registered under the
Securities Act, generally will not be subject to transfer
restriction or be entitled to registration rights or related
provisions relating to additional interest applicable to the old
notes and will bear a different CUSIP or ISIN number from the old
notes. Like the old notes, the new notes are guaranteed on a senior
secured basis by each of the Company's direct and indirect
wholly-owned subsidiaries (other than those that are securitization
subsidiaries or immaterial subsidiaries) existing as of the issue
date of the old notes. The Company will not receive any proceeds
upon the consummation of the exchange offer. While expected to
close in January, there can be no assurance that all holders of the
notes will exchange their notes as described above, or at all.
Completion of the exchange offer is subject to documentation and
customary closing conditions.
This press release is issued pursuant to Rule 135 of the
Securities Act, is for informational purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy
the new notes or any other securities. The offering of the new
notes shall not be made to any person in any jurisdiction in which
such an offer, solicitation or sale is unlawful.
ABOUT XERIUM TECHNOLOGIES, INC.
Xerium is a leading global provider of industrial consumable
products and services. Xerium, which operates around the world
under a variety of brand names, utilizes a broad portfolio of
patented and proprietary technologies to provide customers with
tailored solutions and products integral to production, all
designed to optimize performance and reduce operational costs. With
28 manufacturing facilities in 13 countries around the world,
Xerium has approximately 2,900 employees.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. The
words “will,” “believe,” “estimate,” “expect,” “intend,”
“anticipate,” “goals,” variations of such words, and similar
expressions identify forward-looking statements, but their absence
does not mean that the statement is not forward-looking.
Forward-looking statements are not guarantees of future
performance, and actual results may vary materially from the
results expressed or implied in such statements. Differences may
result from actions taken by us, as well as from risks and
uncertainties beyond our control. These risks and uncertainties
include the risks and uncertainties discussed elsewhere in this
press release, our Form 10-K for the year ended December 31, 2015
filed on March 14, 2016, our Form 10-Q for the quarter ended
September 30, 2016 filed on October 27, 2016 and our other SEC
filings. If any of these risks or uncertainties materialize, or if
our underlying assumptions prove to be incorrect, actual results
may vary significantly from what we projected. Any forward-looking
statement in this press release reflects our current views with
respect to future events. Except as required by law, we assume no
obligation to publicly update or revise these forward-looking
statements for any reason, whether as a result of new information,
future events, or otherwise. We are subject to substantial risks
and uncertainties related to current economic conditions, and we
encourage investors to refer to our SEC filings for additional
information.
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version on businesswire.com: http://www.businesswire.com/news/home/20161216005815/en/
Xerium Technologies, Inc.Clifford Pietrafitta,
919-526-1403Cliff.Pietrafitta@xerium.com
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