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GFSI amends exchange offer & expands consent solicitation
22 Dec '05
2 min read
Leading apparel maker GFSI Inc ("GFSI") announced that, in connection with the previously announced exchange offer and consent solicitation pursuant to which GFSI is offering to exchange a new issuance of $134.9 million of principal amount of 11 percent Senior Secured Notes due 2011 (the "Senior Secured Notes") for all of its outstanding
$125.0 million of principal amount of 9-5/8 percent Senior Subordinated Notes due 2007 (CUSIP No. 361695-AC-3) (the "1997 Senior Subordinated Notes") and all of its outstanding $9.9 million of principal amount of 9-5/8 percent Senior Subordinated Notes due 2007 (CUSIP No. 361695-AF-6) (the "2002 Senior Subordinated Notes," and together with the 1997 Senior Subordinated Notes, the "Senior Subordinated Notes"), it is amending the consent fee to be paid to consenting holders and is extending the Consent Payment Deadline.
The consent fee has been increased to $20 per $1,000 in principal amount of Senior Subordinated Notes tendered on or prior to the Consent Payment Deadline. The Consent Payment deadline has been extended to 5:00 P.M., New York City time on the later of (a) December 27, 2005 and (b) the first date on which each of the Minimum Condition, the Supplemental Indenture Condition and the Consent Condition are satisfied.
The exchange offer and consent solicitation commenced on December 7, 2005 and will expire at 5:00 P.M., New York City time, on January 5, 2006, unless extended.
This announcement is not an offer to exchange, a solicitation of an offer to exchange or a solicitation of consent with respect to any securities. The exchange offer and consent solicitation will be made solely by, and subject to the terms and conditions set forth in, the Exchange Offering Memorandum and Consent Solicitation Statement, dated December 7, 2005, as amended, and related documents.
$125.0 million of principal amount of 9-5/8 percent Senior Subordinated Notes due 2007 (CUSIP No. 361695-AC-3) (the "1997 Senior Subordinated Notes") and all of its outstanding $9.9 million of principal amount of 9-5/8 percent Senior Subordinated Notes due 2007 (CUSIP No. 361695-AF-6) (the "2002 Senior Subordinated Notes," and together with the 1997 Senior Subordinated Notes, the "Senior Subordinated Notes"), it is amending the consent fee to be paid to consenting holders and is extending the Consent Payment Deadline.
The consent fee has been increased to $20 per $1,000 in principal amount of Senior Subordinated Notes tendered on or prior to the Consent Payment Deadline. The Consent Payment deadline has been extended to 5:00 P.M., New York City time on the later of (a) December 27, 2005 and (b) the first date on which each of the Minimum Condition, the Supplemental Indenture Condition and the Consent Condition are satisfied.
The exchange offer and consent solicitation commenced on December 7, 2005 and will expire at 5:00 P.M., New York City time, on January 5, 2006, unless extended.
This announcement is not an offer to exchange, a solicitation of an offer to exchange or a solicitation of consent with respect to any securities. The exchange offer and consent solicitation will be made solely by, and subject to the terms and conditions set forth in, the Exchange Offering Memorandum and Consent Solicitation Statement, dated December 7, 2005, as amended, and related documents.
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