Vector Announces Commencement of Notes Offering of $325 Million of Senior Unsecured Notes Due 2026
The Notes will be fully and unconditionally guaranteed on a joint and
several basis by all of the wholly owned domestic subsidiaries of the
Company that are engaged in the conduct of the Company’s cigarette
businesses, and by
The Company intends to use the net cash proceeds from the offering to redeem, repurchase, repay or otherwise retire, the principal amount, plus accrued and unpaid interest on either the Company’s outstanding 7.5% Variable Interest Senior Convertible Notes due 2019, to pay costs and expense in connection with the offering of the Notes and the transactions contemplated thereby, and for general corporate purposes (including to repurchase, repay or otherwise retire our outstanding 5.5% Variable Interest Senior Convertible Notes due 2020 at or prior to, their maturity).
The Notes are being offered in a private offering that is exempt from
the registration requirements of the Securities Act of 1933, as amended
(the “Securities Act”), to qualified institutional buyers in accordance
with Rule 144A under the Securities Act and to persons outside
This press release does not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other security, and there will not be any offer, solicitation or sale of the Notes or any other security in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates”, “believes”, “estimates”, “expects”, “plans”, “intends”, “could” and similar expressions. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in, or implied by, such statements.
All information set forth in this press release is as of
Vector Group Ltd.
Sard Verbinnen & Co
Emily Claffey/Ben Spicehandler/Columbia Clancy