Unifrax Announces Amendment of and Supplement to the Consent Solicitation Relating to the Amendment of the Indenture Governing their 7.50% Senior Notes due 2019 - WTNZ FOX 43 Knoxville, TN

Unifrax Announces Amendment of and Supplement to the Consent Solicitation Relating to the Amendment of the Indenture Governing their 7.50% Senior Notes due 2019

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SOURCE Unifrax I LLC

TONAWANDA, N.Y., July 18, 2014 /PRNewswire/ -- Unifrax I LLC (the "Issuer") and Unifrax Holding Co. (the "Co-Issuer" and together with the Issuer, the "Issuers") previously announced the solicitation of consents (the "Consent Solicitation") to amend (the "Proposed Amendments") the indenture (the "Indenture") governing their 7.50% Senior Notes due 2019 (the "Notes") pursuant to a Consent Solicitation Statement dated July 10, 2014 (the "Consent Solicitation Statement").

The Issuers announced today that they are amending the terms of the Consent Solicitation to (i) increase the consent consideration that will be paid to holders of Notes who validly deliver consents by the Expiration Date (defined below) (and do not revoke such consents) from $10.00 to $22.50 per $1,000 principal amount of Notes for which their consents have been delivered and accepted by the Issuers, and (ii) extend the expiration date for the consent solicitation from 5:00 p.m., New York City time, on July 18, 2014 to 5:00 p.m., New York City time, on July 28, 2014 (the "Expiration Date") and (iii) supplement the Proposed Amendments to include an amendment to the restricted payments covenant contained in the Indenture.

The amendments to the Consent Solicitation are set forth in Amendment and Supplement No. 1, dated July 18, 2014 (the "Supplement") to the Consent Solicitation Statement.  Except as described in this release and as fully set forth in the Supplement, all terms and conditions of the Consent Solicitation are unchanged. 

The Issuers have retained Goldman, Sachs & Co. to act as Solicitation Agent in connection with the Consent Solicitation. Questions about the Consent Solicitation may be directed to Goldman, Sachs & Co. at (800) 828-3182 (toll free) or (212) 902-6941 (collect). Requests for copies of the Supplement or the Consent Solicitation Statement and related documents, and assistance relating to the procedures for delivering consents, may be obtained by contacting D.F. King & Co., Inc., the Information and Tabulation Agent, at (212) 269-5550 (banks and brokers) or (800) 714-3312 (toll free).

This press release is neither an offer to purchase or sell securities, a solicitation of an offer to purchase or sell securities, nor a solicitation of consents, and no recommendation is made as to whether or not holders of Notes should consent to the adoption of the Proposed Amendments.  The Consent Solicitation is not being made to holders of Notes in any jurisdiction in which the making thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

Issuer Description

Unifrax I LLC is one of only two worldwide vertically-integrated manufacturers of high temperature refractory and insulating ceramic fiber and engineered products.  Unifrax I LLC has 27 manufacturing facilities and two product development facilities located in 12 countries serving a diverse base of approximately 4,000 customers across more than 80 countries in a wide variety of industries. 

Forward-Looking Statements

This press release contains forward-looking statements.  These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include such words as "may," "might," "will," "should," "estimate," "project," "plan," "anticipate," "expect," "intend," "outlook," "believe" and other similar expressions that are intended to identify forward-looking statements and information. These forward-looking statements are based on estimates and assumptions by our management that, although we believe to be reasonable, are inherently uncertain and subject to a number of risks and uncertainties.  Forward-looking statements speak only as of the date they are made and we undertake no obligation to publicly update or revise any of them in light of new information, future events or otherwise, except as required by law. We therefore caution you not to rely on these forward-looking statements.

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