Motor Coach Industries International, Inc. Extends Exchange Offer
8 November 1999
Motor Coach Industries International, Inc. Extends Exchange Offer for its Outstanding 11 1/4% Senior Subordinated Notes due 2009
DES PLAINES, Ill.--Nov. 8, 1999--Motor Coach Industries International, Inc. (the "Company"), announced today that it has extended the expiration date of its registered exchange offer (the "Exchange Offer") for all of its outstanding 11 1/4% Senior Subordinated Notes due 2009 (the "Old Notes) until 2 p.m., New York City time, on November 15, 1999, unless extended.In its Exchange Offer, the Company has offered to exchange $1,000 in principal amount of its 11 1/4% Senior Subordinated Notes due 2009, which have been registered under the Securities Act of 1933, as amended (the "New Notes"), for each $1,000 in principal amount of the Old Notes.
The Exchange Offer was previously set to expire at 5 p.m., New York City time, Monday, November 8, 1999. Except for the extension of the expiration date, all other terms and provisions of the Exchange Offer remain as set forth in the Exchange Offer prospectus previously furnished to the registered holders of the Old Notes.
As of Monday, November 8, 1999, holders of approximately $148,250,000 in principal amount of Old Notes have tendered Old Notes (excluding notes for which we have received notice of guarantee) pursuant to the Exchange Offer. The Bank of New York (as Successor to IBJ Whitehall Bank & Trust Company) is serving as the Exchange Agent in connection with the Exchange Offer.
The Company is the leading designer, manufacturer and distributor of long distance motor coaches in the U.S. and Canada with a market share in excess of 50%. The Company also produces replacement parts for motor coaches and transit buses, and sells conversion shells and used coaches through its operating companies.