Interline Brands wraps tender offer for 8 1/8% senior notes due 2014

By Marisa Wong

Madison, Wis., Dec. 1 - Interline Brands, Inc., a Delaware corporation, announced that holders tendered a total of $137,323,000 of the $150.7 million of outstanding 8 1/8% senior subordinated notes due 2014 issued by subsidiary Interline Brands, Inc., a New Jersey corporation, as of 11:59 p.m. ET on Nov. 30.

The company began a cash tender offer for any and all of its outstanding 8 1/8% notes on Nov. 1. The offer expired on Nov. 30.

As previously reported, holders tendered $135,573,000 of the notes as of 5 p.m. ET on Nov. 15, the consent deadline for the offer.

Holders who tendered were deemed to have consented to proposed amendments that would eliminate substantially all of the restrictive covenants and events of default in the note indenture. The consents received as of the consent deadline were enough to satisfy this requirement, and the amendments became effective when the company purchased the tendered notes on Nov. 16.

The company paid $1,043.13, plus accrued interest, for each $1,000 principal amount of the notes tendered by the consent deadline.

On Dec. 1, the company accepted and purchased an additional $1.75 million of the notes at a price of $1,013.13 per $1,000 of notes, plus accrued interest. Following the expiration of the offer, $13,358,000 of the notes remains outstanding.

The company said it will redeem all of the outstanding notes not purchased in the offer on Jan. 3 at a redemption price of 104.063 plus accrued interest to but excluding the redemption date.

Barclays Capital Inc. (800 438-3242 or 212 528-7581) and J.P. Morgan Securities LLC (800 245-8812 or 212 270-3994) are the dealer managers and solicitation agents, and D.F. King & Co., Inc. (800 431-9645 or 212 269-5550) is the information agent and depositary.

Interline is a Jacksonville, Fla., distributor and direct marketer of specialty maintenance, repair and operations products.

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