Partial Redemption 2010
50% Redemption of €130,000,000 8% Senior Subordinated Notes due 2012
Grevenmacher (Luxembourg) – Logwin AG (the “Issuer”) announces that it is immediately exercising its right to call for the redemption of 50% of its outstanding €130,000,000 8% Senior Subordinated Notes due 2012 (the “Notes”).
The indenture of the Notes permits the Issuer to partially redeem the Notes at their principal amount plus accrued and unpaid interest up to and including the date fixed for redemption.
The date fixed for redemption by the Issuer is December 15, 2010. The redemption shall be made on a pro rata basis or on as nearly a pro rata basis as practicable (subject to the applicable procedures of Euroclear and Clearstream). The Notes shall be redeemed only in integral multiples of €1,000.
The Notice of Redemption, as printed in today's issue of the Continental Europe Financial Times and delivered to the Trustee under the indenture and the Luxembourg Stock Exchange is set out in full below.
Logwin contact information:
Tel: +352 719 690 1351
Fax: +352 719 690 1359
NOTICE OF REDEMPTION
Notice to the holders of the outstanding €130,000,000 8.0% Senior Subordinated Notes due 2012 (ISIN XS0207922054; Common Code 020792205)
Logwin AG., formerly known as Thiel Logistik A.G. (the "Company"), hereby gives NOTICE that it intends to redeem 50% of its outstanding 8% Senior Subordinated Notes due 2012 (the "Notes"), on December 15, 2010 (the "Redemption Date"), pursuant to Section 3.01 of the Notes' indenture, dated as of December 13, 2004 and as amended as of March 12, 2010, among the Company, subsidiaries of the Company listed in Schedule 1 thereto, and Deutsche Trustee Company Limited, as Trustee (the "Indenture"), and pursuant to Paragraph 7 of the Notes. The Trustee, in accordance with Section 3.03 of the Indenture, has identified the particular Notes (or portion thereof) to be redeemed. The redemption shall be made on a pro rata basis or on as nearly a pro rata basis as practicable (subject to the applicable procedures of Euroclear and Clearstream). The Notes shall be redeemed only in integral multiples of €1,000.
€65,000,000 initial aggregate principal amount of the Notes shall be redeemed at a price equal to 100% of the principal amount of such Notes, in each case plus accrued and unpaid interest thereon, if any, to the Redemption Date (the "Redemption Price"). Collection of the Redemption Price on the Redemption Date is conditioned upon surrender of the Notes to Deutsche Bank in its capacity as paying agent (the "Paying Agent") at their address listed below, at least one business day prior to the Redemption Date.
On the Redemption Date, the Redemption Price will become due and payable upon each Note redeemed. Unless the Company defaults in paying the Redemption Price to holders of Notes called for redemption, interest on such Notes shall cease to accrue on and after the Redemption Date. Thereupon, the only remaining right of holders of Notes called for redemption shall be the receipt of the Redemption Price plus accrued interest up to the Redemption Date. Upon surrender of the Notes to be redeemed, as provided in the Indenture and after the Redemption Date, the aggregate principal amount of the Notes will be €65,000,000.
Upon the redemption, the Paying Agent shall endorse Schedule A to the global notes surrendered for redemption to reflect the decrease in principal or accreted amount, as the case may be, resulting from such redemption. If the Notes contain a Common Code number or ISIN number as provided in Section 2.14 of the Indenture, no representation is made herein as to the correctness of the Common Code number or ISIN number as printed on the Notes. Holders of Notes called for redemption may only rely upon the other identification numbers printed on the Notes for verification of the correctness of such Common Code number or ISIN number.
DEUTSCHE TRUSTEE COMPANY LTD.
1 Great Winchester St
London EC2N 2DB
Principal Paying Agent
DEUTSCHE BANK AG LONDON
1 Great Winchester St
London EC2N 2DB
Luxembourg Paying Agent
DEUTSCHE BANK LUXEMBOURG S.A.
2, Blvd Konrad Adenauer
Logwin AG | ZIR Potaschberg | 5, an de Längten | 6776 Grevenmacher | Luxemburg