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Delta Woodside Industries & Delta Mills declare tender offer results
31 May '06
2 min read
Delta Woodside Industries Inc and its wholly-owned subsidiary Delta Mills Inc announced that the tender offer and consent solicitation described in Delta Mills' Offer to Purchase and Consent Solicitation, dated April 17th 2006 (the 'Offer and Solicitation') expired yesterday at 5:00 pm New York City Time.
Delta Mills received tenders of, and consents to the proposed amendments to the Senior Notes Indenture from holders of, $7,602,000 in principal amount of Senior Notes (approx. 25 percent of the total principal amount outstanding). Because consummation of the tender offer and consent solicitation was conditioned upon receipt of consents with respect to at least a majority in principal amount of the outstanding Senior Notes, Delta Mills did not accept any tenders or consents, and the Indenture will not be amended as a result of the offer and solicitation.
On May 30th 2006, Delta Mills entered into an amendment to its credit facility with GMAC that is substantially similar to the Proposed New Credit Facility described in the Offer and Solicitation, which will be described in a forthcoming Current Report on Form 8-K.
Delta Woodside Industries Inc is headquartered in Greenville, South Carolina. Through its wholly-owned subsidiary, Delta Mills, it manufactures and sells textile products for the apparel industry. It employs about 600 people and operates two plants located in South Carolina.
Delta Mills received tenders of, and consents to the proposed amendments to the Senior Notes Indenture from holders of, $7,602,000 in principal amount of Senior Notes (approx. 25 percent of the total principal amount outstanding). Because consummation of the tender offer and consent solicitation was conditioned upon receipt of consents with respect to at least a majority in principal amount of the outstanding Senior Notes, Delta Mills did not accept any tenders or consents, and the Indenture will not be amended as a result of the offer and solicitation.
On May 30th 2006, Delta Mills entered into an amendment to its credit facility with GMAC that is substantially similar to the Proposed New Credit Facility described in the Offer and Solicitation, which will be described in a forthcoming Current Report on Form 8-K.
Delta Woodside Industries Inc is headquartered in Greenville, South Carolina. Through its wholly-owned subsidiary, Delta Mills, it manufactures and sells textile products for the apparel industry. It employs about 600 people and operates two plants located in South Carolina.
Delta Woodside Industries Inc
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