NCI Building Systems (NCS) Announces Put Option Notification for 2.125% Convertible Senior Subordinated Notes
NCI Building Systems, Inc. (NYSE: NCS) announced that it is notifying holders of the $58,750 outstanding principal amount of its 2.125% Convertible Senior Subordinated Notes due 2024 (the "Notes") that they have an option, pursuant to the terms of the Notes, to require the Company to purchase all or a portion of such holders' Notes (the "Put Option") at a price equal to 100% of the principal amount of the Notes, together with the interest and the additional amounts, if any, accrued and unpaid thereon to, but not including, December 8, 2009.
The amount of accrued and unpaid interest to, but not including, December 8, 2009 on each $1,000 in principal amount of the Notes is $1.2986. There are no additional amounts accrued and unpaid to, but not including, December 8, 2009. Under the terms of the Notes, the Company will pay for the Notes with cash on hand. The Put Option was triggered under the terms of the Notes by the previously announced completion of the $250 million equity investment in the Company by funds managed by Clayton, Dubilier & Rice, Inc.
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