Attached files
file | filename |
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8-K - FORM 8-K - VECTOR GROUP LTD | g25450e8vk.htm |
EX-4.1 - EX-4.1 - VECTOR GROUP LTD | g25450exv4w1.htm |
EX-4.2 - EX-4.2 - VECTOR GROUP LTD | g25450exv4w2.htm |
Exhibit 99.1
VECTOR GROUP LTD. COMPLETES SALE OF $90 MILLION
AGGREGATE PRINCIPAL AMOUNT OF 11% SENIOR SECURED NOTES
AGGREGATE PRINCIPAL AMOUNT OF 11% SENIOR SECURED NOTES
MIAMI, FL, December 3, 2010 Vector Group Ltd. (NYSE: VGR) (the Company) announced today that
it has completed the private placement of $90 million aggregate principal amount of its 11% Senior
Secured Notes due 2015 (the Notes). The Notes are fully and unconditionally guaranteed on a joint
and several basis by all of the wholly owned domestic subsidiaries of the Company that are engaged
in the conduct of the Companys cigarette businesses.
The Notes were issued at 103% of the face value. The Company intends to use the net proceeds of the
issuance for general corporate purposes.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the
Notes. The Notes have not been registered under the Securities Act of 1933, as amended (the
Securities Act), or the securities laws of any other jurisdiction. Unless so registered, the
Notes may not be offered or sold in the United States except pursuant to an exemption from the
registration requirements of the Securities Act and the applicable securities laws of any other
jurisdiction.
This press release contains certain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify
these forward-looking statements using words such as anticipates, believes, estimates,
expects, plans, intends and similar expressions. These statements reflect the Companys
current beliefs and are based upon information currently available to it. Accordingly, such
forward-looking statements involve known and unknown risks, uncertainties and other factors which
could cause the Companys actual results, performance or achievements to differ materially from
those expressed in, or implied by, such statements.
Vector Group is a holding company that indirectly owns Liggett Group LLC and Vector Tobacco Inc.
and directly owns New Valley LLC.