|By PR Newswire||
|February 4, 2014 09:32 AM EST||
TEMPE, Ariz., Feb. 4, 2014 /PRNewswire/ -- StandardAero announced today the early tender results of the previously announced cash tender offer (the "Tender Offer") and consent solicitation (the "Consent Solicitation" and, together with the Tender Offer, the "Offer") by its indirect parent, DAE Aviation Holdings, Inc. (the "Company"), with respect to any and all of its outstanding $300,000,000 aggregate principal amount of 11.25% Senior Notes due 2015 (the "Notes").
As of 5:00 p.m., New York City time, on February 3, 2014 (the "Consent Payment Deadline"), $245,093,000 aggregate principal amount of Notes had been validly tendered and not withdrawn, which represented approximately 81.70% of the outstanding aggregate principal amount of the Notes. Subject to the terms and conditions of the Offer, the Company expects that it will accept for purchase and payment all of the Notes that were validly tendered and not withdrawn on or prior to the Consent Payment Deadline prior to the expiration of the Offer. The initial payment date for the Notes accepted by the Company in connection with the Consent Payment Deadline is expected to occur on February 5, 2014 (the "Initial Payment Date"). Holders of Notes who tendered their Notes on or prior to the Consent Payment Deadline will receive $1,007.50 per $1,000 principal amount of the Notes validly tendered (which includes the consent payment of $30.00 per $1,000 principal amount of the Notes), plus any accrued and unpaid interest from the most recent interest payment date for the Notes to, but not including, the Initial Payment Date. In addition, due to the receipt of the consent of the holders of at least a majority in aggregate principal amount of the outstanding Notes, the Company will execute a supplemental indenture to the indenture governing the Notes effecting certain amendments (which, among other modifications, will eliminate substantially all of the restrictive covenants and certain events of default in the indenture governing the Notes).
The Offer is described in the Offer to Purchase and Consent Solicitation Statement dated January 21, 2014. Holders who validly tender their Notes after the Consent Payment Deadline, but on or prior to 11:59 p.m., New York City time, on Tuesday, February 18, 2014, unless extended or earlier terminated by the Company (the "Expiration Date"), shall receive the tender offer consideration equal to $977.50 per $1,000 principal amount of the Notes, plus any accrued and unpaid interest on the Notes from the most recent interest payment date for the Notes to, but not including, the payment date for such Notes. Holders of Notes tendered after the Consent Payment Deadline will not receive any consent payment. Notes tendered pursuant to the Tender Offer may no longer be withdrawn.
The Offer and the Company's obligation to accept Notes for purchase and payment is subject to certain previously disclosed conditions, including, without limitation, (i) the receipt by the Company of net proceeds from a new debt financing or financings on terms and conditions satisfactory to the Company in an aggregate amount that is sufficient to pay the total consideration in respect of all Notes, plus estimated fees and expenses relating to the Offer and such new debt financing or financings, and (ii) the consummation of any amendments to the Company's existing debt arrangements necessary to permit the transactions contemplated in connection with Offer. If any of the conditions are not satisfied, the Company is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any Notes and may terminate the Offer in its sole discretion.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
Requests for documents relating to the Offer may be directed to D.F. King & Co., Inc., the Tender Agent and the Information Agent, at (800) 431-9643 or (212) 269-5550 (banks and brokers). Barclays is acting as Dealer Manager and Solicitation Agent for the Offer. Questions regarding the Offer may be directed to Barclays at (800) 438-3242 (toll free) or (212) 528-7581 (collect).
None of the Company, the Dealer Manager and Solicitation Agent, the Information Agent, the Tender Agent or any other person makes any recommendation as to whether holders of Notes should tender their Notes, and no one has been authorized to make such a recommendation.
StandardAero is one of the world's largest independent providers of services including engine and airframe maintenance, repair and overhaul, engine component repair, engineering services, interior completions and paint applications. StandardAero serves a diverse array of customers in business and general aviation, airline, military, helicopter, components, energy and VIP completions markets. A Dubai Aerospace Enterprise (DAE) company, StandardAero provides a global service network of 13 primary facilities in the U.S., Canada, Europe, Singapore and Australia, along with an additional 50 sales and field service locations. The company celebrated its 100th year of industry leadership in 2011.
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aerospace company specializing in maintenance, repair and overhaul (MRO) services, aircraft completions and aircraft leasing. The Company is headquartered in Dubai and operates in four continents and employs over 4,000 people. More information can be found on the company's web site at www.dubaiaerospace.com.
This press release contains forward-looking statements conveying management's expectations as to the future based on current plans, estimates and projections. Forward-looking statements involve inherent risks and uncertainties and StandardAero cautions you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this press release include statements related to the Offer, including the Initial Payment Date, Expiration Date and possible completion of the Offer. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. StandardAero does not undertake to update any of these statements in light of new information or future events, except, with respect to the Offer, as specifically set forth in this press release.
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captur...
Jan. 20, 2017 12:45 AM EST Reads: 2,862
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Jan. 20, 2017 12:45 AM EST Reads: 4,101
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Jan. 20, 2017 12:45 AM EST Reads: 2,800
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Jan. 20, 2017 12:00 AM EST Reads: 6,325
In his session at DevOps Summit, Tapabrata Pal, Director of Enterprise Architecture at Capital One, will tell a story about how Capital One has embraced Agile and DevOps Security practices across the Enterprise – driven by Enterprise Architecture; bringing in Development, Operations and Information Security organizations together. Capital Ones DevOpsSec practice is based upon three "pillars" – Shift-Left, Automate Everything, Dashboard Everything. Within about three years, from 100% waterfall, C...
Jan. 19, 2017 11:45 PM EST Reads: 9,907
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Jan. 19, 2017 09:45 PM EST Reads: 6,815
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Jan. 19, 2017 09:45 PM EST Reads: 7,696
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 19, 2017 09:00 PM EST Reads: 4,552
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Jan. 19, 2017 08:45 PM EST Reads: 5,387
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
Jan. 19, 2017 07:30 PM EST Reads: 4,237
Providing secure, mobile access to sensitive data sets is a critical element in realizing the full potential of cloud computing. However, large data caches remain inaccessible to edge devices for reasons of security, size, format or limited viewing capabilities. Medical imaging, computer aided design and seismic interpretation are just a few examples of industries facing this challenge. Rather than fighting for incremental gains by pulling these datasets to edge devices, we need to embrace the i...
Jan. 19, 2017 05:30 PM EST Reads: 3,640
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Jan. 19, 2017 05:15 PM EST Reads: 3,113
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Jan. 19, 2017 05:15 PM EST Reads: 1,339
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 19, 2017 04:45 PM EST Reads: 3,770
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th 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 no time to wait for long developm...
Jan. 19, 2017 04:45 PM EST Reads: 3,491