(1) the maximum aggregate principal amount of the Securities to be accepted shall be $200,000,000, including up to $125,000,000 of the 2015 Notes with no corresponding maximum principal amount to be accepted with respect to the 2017 notes (such offers, as amended, the "Tender Offers") and
(2) the 2015 Notes shall be assigned acceptance priority level 1 and the 2017 Notes shall be assigned acceptance priority level 2.
The Company also announced today the early tender date results of its Tender Offers. The following table sets forth the Securities that are subject to the Tender Offers as well as the aggregate principal amounts of Securities validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on March 11, 2013 (the "Early Tender Date").
Securities tendered for purchase in the Tender Offers are subject to the maximum aggregate principal amount of $200,000,000 and proration, as described below and in the Offer to Purchase, and are also subject to the acceptance priority levels indicated above.
All 2015 Notes up to the $125,000,000 maximum aggregate principal amount of 2015 Notes to be purchased that are validly tendered will have priority over any 2017 Notes that are tendered for purchase.
Accordingly, 2017 Notes tendered prior to the Early Tender Date may be subject to proration in the event that additional 2015 Notes are tendered after the Early Tender Date and prior to the Expiration Date or additional 2017 Notes are tendered after the Early Tender Date and prior to the Expiration Date.
In addition, 2015 Notes validly tendered prior to the Early Tender Date will be subject to proration in the event that in excess of $17,249,000 of additional 2015 Notes are tendered after the Early Tender Date and prior to the Expiration Date.
Holders who have not already tendered their Securities may continue to do so at any time at or prior to 11:59 p.m., New York City time, on March 25, 2013 (the "Expiration Date"), unless Cytec extends or earlier terminates the Tender Offer.
However, such holders will not be entitled to receive any early tender premium, except in the case of any Securities that were tendered prior to 5:00 p.m., New York City time, on March 11, 2013 and which were accepted for purchase. No tenders will be valid if submitted after the Expiration Date. Withdrawal rights for the Tender Offers have expired.
As described in the Offer to Purchase, if the aggregate principal amount of 2015 Notes that are validly tendered exceeds the Maximum Principal Amount to be Accepted (as set forth in the table above) or the aggregate principal amount of Securities that are validly tendered exceeds the maximum aggregate principal amount of $200,000,000, Cytec will accept for payment only such portion of the Securities that does not result in an aggregate principal amount purchased that is above such maximum amounts.
Textiles | On 1st May 2017
Stage is set for FESPA 2017 at the Hamburg Messe, Germany during May...
Textiles | On 30th Apr 2017
Indian Government is working to revamp the technology mission on...
Apparel/Garments | On 30th Apr 2017
Columbia Sportswear Company has announced record net sales of $543.8...
Every fifth sale we make on Zapyle is a repeat purchase
Studio Priyanka Rajiv
‘To reinvent the age-old tradition of embroidery to suit demographics and...
Hindoostan Innovation Centre
‘Modern technical textile is an indispensable tool for science and...
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...
"You have to truly understand what your client wants, know her needs, what ...
Golfwear and menswear brand Devereux is set for greener pastures. Robert...
Silvia Venturini Fendi
"Yes, my confidence and positive attitude are my strengths and should be...