General Cable (BGC) Extends Expiration Date of Its Convertible Note Exchange Offer
General Cable Corporation (NYSE: BGC) has extended the expiration date of its offer to exchange its new Subordinated Convertible Notes due 2029, or the 2029 notes, for its outstanding 1.00% Senior Convertible Notes due 2012, or the 2012 notes. Pursuant to the exchange offer, the Company is offering to exchange $925 principal amount of its 2029 notes for each $1,000 principal amount of its outstanding 2012 notes, upon the terms and subject to the conditions set forth in the Company's preliminary prospectus dated October 27, 2009 (as the same may be amended and supplemented, the "preliminary prospectus") and the related letter of transmittal. Holders whose 2012 notes are accepted for exchange will also receive accrued and unpaid interest on such 2012 notes from the last interest payment date to, but excluding, the date on which the exchange of 2012 notes that are accepted for exchange is settled.
The exchange offer, which was scheduled to expire at midnight, New York City time, on November 24, 2009, will now expire at midnight, New York City time, on December 11, 2009, unless further extended or earlier terminated by the Company. As a result of the extension of the expiration of the exchange offer, the measuring period for determining the average VWAP pursuant to the exchange offer will commence on November 30, 2009, unless the exchange offer is further extended or earlier terminated by the Company.
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