Claymont Steel Announces Results to Date and Extension of Early Tender Date in
Tender Offer for its Outstanding 8.875% Senior Notes due 2015
CLAYMONT, Del., July 16 /PRNewswire/ -- Claymont Steel, Inc. (the
"Company") today announced the results to date of its previously announced
cash tender offer for any and all of its outstanding 8.875% Senior Notes due
2015 (the "Notes"). As of 5:00 p.m., New York City time, on July 16, 2008,
$105 million in aggregate principal amount of the Notes, representing 100% of
the outstanding Notes, was validly tendered (and not validly withdrawn).
The Company also announced that it is extending the early tender date of
the tender offer to 5:00 p.m., New York City time, on July 24, 2008. Holders
who have previously tendered their Notes do not need to re-tender their Notes
or take any other action in response to this extension. The withdrawal
deadline for the Notes expired at 5:00 p.m., New York City Time, on July 16,
2007. Accordingly, holders may no longer withdraw any Notes previously
tendered.
Except as described above, all other terms and conditions of the tender
offer remain in full force and effect. Consummation of the tender offer is
subject to the satisfaction or waiver of certain conditions, including but not
limited to a financing condition. Consummation of the tender offer is not
conditioned upon receipt of any minimum principal amount of the Notes.
RBS Greenwich Capital is acting as dealer manager for the tender offer.
The information agent and depositary for the tender offer is D.F. King & Co.,
Inc. Requests for documentation should be directed to at D.F. King & Co., Inc.
at (800) 967-7921. Questions regarding the terms of the tender offer should be
directed to RBS Greenwich Capital at (203) 618-6145 or (877) 297-9832.
This press release is neither an offer to purchase nor a solicitation of
an offer to sell securities. The tender offer is being made only pursuant to
the Company's Offer to Purchase dated July 2, 2008 and the related Letter of
Transmittal.
Safe Harbor Statement
Certain statements in this press release may contain forward-looking
statements concerning the tender offer. These statements are based on the
Company's current expectations and the Company can give no assurance that such
expectations will prove to be correct. The Company undertakes no obligation to
revise or update any forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
SOURCE Claymont Steel, Inc.
Tom Long, +1-212-493-6920, for Claymont Steel, Inc.
