Welcome!

News Feed Item

Appvion, Inc. Announces Amendments To Tender Offer And Consent Solicitation For Its 10.50% Senior Secured Notes Due 2015 And The Termination Of Its Tender Offer And Consent Solicitation For Its 9.75% Senior Subordinated Notes Due 2014 And 11.25% Second Li

APPLETON, Wis., June 24, 2013 /PRNewswire/ -- Appvion, Inc. (the "Company"), formerly Appleton Papers Inc., today announced amendments to the terms of its previously announced tender offer to purchase any and all of its outstanding 10.50% Senior Secured Notes due 2015 (the "First Lien Notes") and consent solicitation to effect certain proposed amendments (the "Proposed Amendments") to the indenture governing the First Lien Notes (the "First Lien Notes Indenture") (collectively, as amended, the "Tender Offer and Consent Solicitation"). 

(Logo: http://photos.prnewswire.com/prnh/20130513/CG12038LOGO)

Concurrently, the Company announced the termination of its previously announced tender offer to purchase any and all of its outstanding 9.75% Senior Subordinated Notes due 2014 (the "Senior Subordinated Notes") and 11.25% Second Lien Notes due 2015 (the "Second Lien Notes") and consent solicitation to effect certain proposed amendments to the indenture governing the Second Lien Notes (as supplemented and amended, the "Second Lien Notes Indenture"). 

The Company will not accept any Senior Subordinated Notes or any Second Lien Notes tendered for purchase or any consents accompanying Second Lien Notes delivered, and the Company will not amend the Second Lien Notes Indenture.

The Company is proceeding with the Tender Offer and Consent Solicitation with respect to the First Lien Notes pursuant to an Offer to Purchase and Consent Solicitation Statement dated May 31, 2013 (the "Original Statement"), as supplemented and amended by Supplement No.1 thereto dated June 24, 2013.  The total consideration (the "Total Consideration") for each $1,000 principal amount of First Lien Notes validly tendered and not validly withdrawn at or prior to 12:00 midnight, New York City time, on June 27, 2013 (the "Expiration Time") is $1,059.68, which includes a consent payment of $50.00 per $1,000 principal amount of First Lien Notes.

All holders that validly tender (and do not validly withdraw) First Lien Notes and validly deliver (and do not validly revoke) the accompanying consents at or prior to the Expiration Time will receive the Total Consideration. In addition to the Total Consideration, all holders whose First Lien Notes are accepted for purchase will receive accrued and unpaid interest from the last interest payment date to, but not including, the settlement date.

First Lien Notes tendered (and consents delivered) by any holder of the First Lien Notes prior to the date of this announcement, as well as those tendered (and delivered) from and after the date hereof but prior to the Expiration Time, may be withdrawn (and validly revoked) at or prior to the Expiration Time.

Jefferies LLC ("Jefferies") is acting as the dealer manager for the Tender Offer and solicitation agent for the Consent Solicitation and i-Deal LLC ("i-Deal") is acting as the information agent for the Tender Offer and Consent Solicitation.  Requests for documents may be directed to i-Deal at (888) 593-9546 (toll-free) or (212) 849-3880.  Questions regarding the Tender Offer and Consent Solicitation may be directed to Jefferies at (888) 708-5831 (toll-free) or (203) 708-5831 (collect).

This announcement is not an offer to purchase or a solicitation of an offer to sell any securities.  The Tender Offer and Consent Solicitation are being made solely by means of the Original Statement, and the accompanying Letter of Transmittal and Consent, each as supplemented and amended on June 24, 2013 (collectively, the "Offer Documents").  The Offer Documents contain important information and should be read carefully before any decision is made with respect to the Tender Offer and Consent Solicitation.  The Tender Offer and Consent Solicitation are not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.  None of the Company, the dealer manager and solicitation agent, the information agent, or the trustee and collateral agent under the First Lien Notes Indenture, or any of their respective affiliates, is making any recommendation as to whether or not holders should tender all or any portion of their First Lien Notes in the Tender Offer or deliver accompanying consents to the Proposed Amendments.

About Appvion, Inc.
Appvion creates product solutions through its development and use of coating formulations, coating applications and Encapsys® microencapsulation technology. The company produces thermal, carbonless and security papers and Encapsys products.  Appvion, headquartered in Appleton, Wisconsin, has manufacturing operations in Wisconsin, Ohio and Pennsylvania, employs approximately 1,700 people and is 100 percent employee-owned.  For more information, visit www.appvion.com

Cautionary Notice Regarding Forward-Looking Statements
The matters discussed in this news release may include forward-looking statements, which could involve a number of risks and uncertainties.  When used in this press release, the words "will," "believes," "intends," "anticipates," "expects" and similar expressions are intended to identify forward-looking statements.  Actual results could differ materially from those expressed in, or implied by, such forward-looking statements.  Except as expressly required by the federal securities laws, the Company undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements.

SOURCE Appvion, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
“Why didn’t testing catch this” must become “How did this make it to testing?” Traditional quality teams are the crutch and excuse keeping organizations from making the necessary investment in people, process, and technology to accelerate test automation. Just like societies that did not build waterways because the labor to keep carrying the water was so cheap, we have created disincentives to automate. In her session at @DevOpsSummit at 20th Cloud Expo, Anne Hungate, President of Daring System...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, discussed the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insights from the vast t...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Recently, IoT seems emerging as a solution vehicle for data analytics on real-world scenarios from setting a room temperature setting to predicting a component failure of an aircraft. Compared with developing an application or deploying a cloud service, is an IoT solution unique? If so, how? How does a typical IoT solution architecture consist? And what are the essential components and how are they relevant to each other? How does the security play out? What are the best practices in formulating...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
In his session at @ThingsExpo, Arvind Radhakrishnen discussed how IoT offers new business models in banking and financial services organizations with the capability to revolutionize products, payments, channels, business processes and asset management built on strong architectural foundation. The following topics were covered: How IoT stands to impact various business parameters including customer experience, cost and risk management within BFS organizations.
SYS-CON Events announced today that Elastifile will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Elastifile Cloud File System (ECFS) is software-defined data infrastructure designed for seamless and efficient management of dynamic workloads across heterogeneous environments. Elastifile provides the architecture needed to optimize your hybrid cloud environment, by facilitating efficient...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single-threaded, you can effectively identify hot spots in your serverless code. In his session at @DevOpsSummit at 21st Cloud Expo, Dave Martin, Product owner at CA Technologies, will give a live demonstration and code walkthrough, showing how ...
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is ...
SYS-CON Events announced today that Golden Gate University will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Since 1901, non-profit Golden Gate University (GGU) has been helping adults achieve their professional goals by providing high quality, practice-based undergraduate and graduate educational programs in law, taxation, business and related professions. Many of its courses are taug...