Market Overview

USG Corporation Announces Final Tender Offer Results for 9.75% Senior Notes due 2014

USG Corporation (NYSE: USG) announced today that the cash tender offer for any and all of its outstanding 9.75% Senior Notes due 2014 expired at 11:59 p.m., New York City time, on April 11, 2012. An aggregate principal amount of approximately $118.2 million of Notes were validly tendered in the Tender Offer.

USG expects to accept and make payment today for all of the Notes that were validly tendered at or prior to the Expiration Time in connection with the closing of USG's previously announced private offering of $250 million aggregate principal amount of its 7.875% Senior Notes due 2020 (the “New Notes”).

Holders of Notes who validly tendered their Notes at or before 5:00 p.m., New York City time, on April 2, 2012 (the “Extended Early Tender Time”), are eligible to receive $1,125.00 per $1,000 principal amount of Notes, which includes an early tender premium of $30 per $1,000 principal amount of Notes (the “Early Tender Premium”). Holders of Notes who validly tendered their Notes after the Extended Early Tender Time, but at or prior to the Expiration Time, are only eligible to receive the tender offer consideration of $1,095.00 per $1,000 principal amount of Notes and will not receive any Early Tender Premium. In addition, accrued interest up to, but not including, the settlement date for the Notes will be paid in cash on all validly tendered and accepted Notes.

Posted-In: News Financing Offerings

 

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