Lear Announces Exchange Offer For 7.96% Senior Notes Due 2005
16 December 1999
Lear Corporation Announces Exchange Offer For 7.96% Senior Notes Due 2005 and 8.11% Senior Notes Due 2009SOUTHFIELD, Mich., Dec. 16 -- Lear Corporation announced today that it is has commenced an exchange offer for all of its outstanding 7.96% Senior Notes due 2005 and 8.11% Senior Notes due 2009. Lear is offering to exchange up to $600,000,000 aggregate principal amount of its 7.96% Series B Senior Notes due 2005 which have been registered under the Securities Act of 1933, as amended, for a like principal amount of its original unregistered 7.96% Senior Notes due 2005 and up to $800,000,000 aggregate principal amount of its 8.11% Series B Senior Notes due 2009 which have been registered under the Securities Act of 1933, as amended, for a like aggregate principal amount of its original unregistered 8.11% Senior Notes due 2009. The terms of the exchange securities are identical in all respects to the terms of the original securities for which they are being exchanged, except that the registration rights and related liquidated damages provisions, and the transfer restrictions, applicable to the original securities are not applicable to the exchange securities. Lear will accept for exchange any and all original securities validly tendered on or prior to 5 p.m., New York City time, on the date the exchange offer expires, which will be January 17, 2000, unless the exchange offer is extended by Lear. The exchange offer is made only pursuant to Lear's prospectus, dated December 15, 1999, which has been filed with the Securities and Exchange Commission as part of Lear's Registration Statement on Form S-4. The Registration Statement was declared effective by the Securities and Exchange Commission on December 15, 1999. Copies of the prospectus and transmittal materials governing the exchange offer may be obtained from the Exchange Agent, The Bank of New York, at the following address: The Bank of New York 101 Barclay Street New York, New York 10286 Attention: Tolutope Adeyujo Reorganization Section 212-815-2824