Xerium Technologies, Inc. Announces Proposed Senior Secured Notes Offering
July 18 2016 - 9:20PM
Business Wire
Xerium Technologies, Inc. (NYSE:XRM), a leading global provider
of industrial consumable products and services, today announced its
intention to offer, subject to market and other conditions, $475
million aggregate principal amount of senior secured notes due
2021.
Xerium intends to use the net proceeds from the offering to
repay all amounts outstanding under its existing term loan credit
facility, to redeem all of its 8.875% Senior Notes due 2018 and to
pay premiums, fees and expenses in connection therewith.
The notes proposed to be offered have not been registered under
the Securities Act of 1933, as amended (the "Securities Act"), or
any state securities laws and may not be offered or sold in the
United States or to any U.S. persons absent registration under the
Securities Act, or pursuant to an applicable exemption from, or in
a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The notes will
be offered only to "qualified institutional buyers" under Rule 144A
of the Securities Act or, outside the United States, to persons
other than "U.S. persons" in compliance with Regulation S under the
Securities Act.
This press release is issued pursuant to Rule 135c of the
Securities Act, is for informational purposes only and shall not
constitute an offer to sell nor the solicitation of an offer to buy
the notes or any other securities. The offering of the notes will
not be made to any person in any jurisdiction in which the offer,
solicitation or sale is unlawful.
ABOUT XERIUM TECHNOLOGIES
Xerium Technologies, Inc. (NYSE:XRM) is a leading global
provider of industrial consumable products and services. Xerium,
which operates around the world under a variety of brand names,
utilizes a broad portfolio of patented and proprietary technologies
to provide customers with tailored solutions and products integral
to production, all designed to optimize performance and reduce
operational costs. With 30 manufacturing facilities in 13 countries
around the world, Xerium has approximately 3,000 employees.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. The
words "will", "believe," "estimate," "expect," "intend,"
"anticipate," "goals," variations of such words, and similar
expressions identify forward-looking statements, but their absence
does not mean that the statement is not forward-looking.
Forward-looking statements are not guarantees of future
performance, and actual results may vary materially from the
results expressed or implied in such statements. Differences may
result from actions taken by us, as well as from risks and
uncertainties beyond our control. These risks and uncertainties
include the risks and uncertainties discussed elsewhere in this
press release, our Form 10-K for the year ended December 31, 2015
filed on March 14, 2016 and our other SEC filings. If any of these
risks or uncertainties materialize, or if our underlying
assumptions prove to be incorrect, actual results may vary
significantly from what we projected. Any forward-looking statement
in this press release reflects our current views with respect to
future events. Except as required by law, we assume no obligation
to publicly update or revise these forward-looking statements for
any reason, whether as a result of new information, future events,
or otherwise. We are subject to substantial risks and uncertainties
related to current economic conditions, and we encourage investors
to refer to our SEC filings for additional information.
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version on businesswire.com: http://www.businesswire.com/news/home/20160718006399/en/
Xerium Technologies, Inc.Clifford Pietrafitta,
919-526-1403Cliff.Pietrafitta@xerium.com
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