Dura Completes Tender Offer and Consent Solicitation for Trident Notes
24 June 1999
Dura Automotive Systems, Inc. Completes Tender Offer and Consent Solicitation for Trident Automotive plc NotesMINNEAPOLIS, June 24 -- Dura Automotive Systems, Inc. , today announced that its wholly-owned subsidiary, Trident Automotive plc ("Trident"), has successfully completed its cash tender offer and consent solicitation relating to the $75,000,000 outstanding principal amount of 10% Senior Subordinated Notes due December 14, 2005 issued by Trident (the "Notes"). The offer expired on midnight, New York City time, on June 23, 1999 (the "Expiration Date"). The payment date is June 24, 1999. The offer was made pursuant to the Offer to Purchase and Consent Solicitation dated May 26, 1999. As of the Expiration Date, $75,000,000 in aggregate principal amount of the Notes had been tendered (and not withdrawn). Banc of America Securities LLC acted as the dealer manager for the tender offer and consent solicitation. Dura Automotive Systems, Inc., is the world's largest independent designer and manufacturer of driver control systems and a leading global supplier of door systems, window systems and engineered mechanical components for the global automotive industry. The company is also a leading supplier of similar products to the North American recreational vehicle, mass transit and heavy truck market. The company's products include door modules, parking brake systems, automotive cables, transmission shifter systems, encapsulated and sliding windows, window regulators, hinges, latches, seating systems, engine control products, underbody tire carriers, jacks, brake, clutch and accelerator pedals and other mechanical assemblies. The company's products are sold to every North American, European and Japanese original equipment manufacturer, including Ford, General Motors, DaimlerChrysler, Volkswagen, BMW, Toyota, Honda, Nissan, PSA (Peugeot and Citroen) and Renault. Dura's operating headquarters is in Rochester Hills, Mich., and its corporate office is in Minneapolis, Minn.