Vector Announces Commencement of Notes Offering of $850 Million of Senior Secured Notes Due 2025
The Notes will be fully and unconditionally guaranteed by all of the
wholly owned domestic subsidiaries of the Company that are engaged in
the conduct of the Company's cigarette businesses. The Notes will not be
guaranteed by subsidiaries engaged in the Company's real estate business
conducted through its subsidiary
We intend to enter into an agreement with
The Company intends to use the net cash proceeds from the offering of the Notes and, to the extent completed concurrently with the offering of the Notes, the Equity Sale or cash on hand to redeem all of the Company's outstanding 7.750% Senior Secured Notes due 2021 (the "Existing Notes") and for general corporate purposes.
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
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