Cooper Sets Prices for Tender Offer
(Akron/Tire Review) Cooper Tire & Rubber Co. set the prices for its planned fixed spread tender offer to purchase up to $175 million in aggregate principal amount of its outstanding 7.75 per cent notes due 2009, 7.625 per cent notes due 2027, and 8 per cent notes due 2019.
With the tender offer, Cooper will pay valid holders $1,008.71 for each $1,000 principal amount of the 7.75 per cent notes, $893.20 for each $1,000 principal amount of the 7.625 per cent, and $965.36 for each $1,000 principal amount of 8 per cent notes, plus, in each case, accrued and unpaid interest up to, but not including, the settlement date.
The tender offer is scheduled to expire at 17:00 EDT on 3 December 2005, unless extended by the company.
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