YORK, Pa., Aug. 4, 2011 /PRNewswire/ -- Graham Packaging
Company Inc. (NYSE: GRM) ("Graham") announced today that its
wholly-owned subsidiaries Graham Packaging Company, L.P. and GPC
Capital Corp. I (collectively, the "Issuers"), are extending the
expiration time of the previously announced tender offer for any
and all of their 9.875% Senior Subordinated Notes due 2014 (the
"Subordinated Notes") set forth in the Offer to Purchase and
Consent Solicitation Statement dated July 6,
2011, as supplemented by Supplement No. 1 dated July 18, 2011 (together, the "Statement"). The
"Expiration Time" applicable to the tender offer related to the
Subordinated Notes, previously scheduled for 8:00 a.m., New York
City time, on August 4, 2011,
has been extended to 5:00 p.m.,
New York City time, on
August 19, 2011, unless further
extended or earlier terminated.
Holders are urged to read the Statement carefully. Except as
described in this press release, all terms and conditions of the
tender offer and consent solicitation related to the Subordinated
Notes as described in the Statement are unchanged.
Graham previously announced that the Issuers have received the
Requisite Consents (as defined in the Statement) with respect to
the Subordinated Notes to adopt the proposed amendments that were
the subject of the consent solicitation for such notes. The
Early Tender/Consent Deadline (as defined in the Statement) with
respect to the Subordinated Notes expired at 5:00 p.m., New York
City time, on July 19, 2011,
and was not extended.
As of 8:00 a.m., New York City time, on August 4, 2011, $18,155,000 aggregate principal amount of
Subordinated Notes were validly tendered (and not validly
withdrawn) in the related tender offer.
The tender offers for the Issuers' 8.25% Senior Notes due 2017
and 8.25% Senior Notes due 2018 (collectively, the "Senior Notes"
and, together with the Subordinated Notes, the "Notes") set forth
in the Statement expired at 8:00
a.m., New York City time,
on August 4, 2011. The Issuers did
not receive the Requisite Consents (as defined in the Statement)
with respect to the Senior Notes and will not purchase any Senior
Notes in connection with the tender offers for such notes.
The Issuers have engaged Credit Suisse Securities (USA) LLC ("Credit Suisse") as Dealer Manager
for the tender offers and as Solicitation Agent for the consent
solicitations. Persons with questions regarding the tender offers
and consent solicitations should contact Credit Suisse at (800)
820-1653 (toll free) or (212) 538-2147 (collect). Requests for
copies of the Statement or other tender offer materials may be
directed to D.F. King & Co.,
Inc., the Information Agent, at (800) 714-3312 (toll free), (212)
269-5550 (collect) or graham@dfking.com.
The tender offer and consent solicitation with respect to the
Subordinated Notes is subject to certain conditions as described in
the Statement. The Issuers have reserved the right to amend,
further extend, terminate or waive any terms or conditions to such
tender offer and consent solicitation to the fullest extent
permitted by law.
This press release is for informational purposes only and does
not constitute an offer to buy or the solicitation of an offer to
sell the Notes. The tender offers and consent solicitations are
being made only pursuant to the Statement and related materials.
Noteholders and investors should read carefully the Statement and
related materials because they contain important information,
including the various terms of and conditions to the tender offers
and consent solicitations.
None of Graham, the Issuers, the Dealer Manager, the
Solicitation Agent, or the Information Agent makes any
recommendation as to whether holders should tender their Notes or
deliver consents pursuant to the tender offers and consent
solicitations.
CONTACT:
David W Bullock
(717) 505-6603
Or
Jeff Grossman
(717) 771-3220
InvestorRelations@grahampackaging.com
SOURCE Graham Packaging Company Inc.