Attached files
file | filename |
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8-K - FORM 8-K - VECTOR GROUP LTD | g27221e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact: | Paul Caminiti/Carrie Bloom/Jonathan Doorley | |||
Sard Verbinnen & Co | ||||
212-687-8080 |
VECTOR GROUP LTD. EXTENDS EXCHANGE OFFER DEADLINE FOR
11% SENIOR SECURED NOTES
IN THE AGGREGATE PRINCIPAL AMOUNT OF $90 MILLION
11% SENIOR SECURED NOTES
IN THE AGGREGATE PRINCIPAL AMOUNT OF $90 MILLION
____________________________
MIAMI, FL, May 12, 2011 Vector Group Ltd. (NYSE: VGR) (the Company) today announced that
it has extended the expiration of its exchange offer from 5:00 p.m., New York City Time, on
Wednesday, May 11, 2011 to 5:00 p.m., New York City Time, on Wednesday, May 18, 2011. Pursuant to
the exchange offer, the Companys 11% Senior Secured Notes due 2015 (the new notes) which have
been registered under the Securities Act of 1933, as amended, are offered for exchange for the $90
million of outstanding 11% Senior Secured Notes due 2015 which were issued on December 3, 2010 in a
transaction exempt from registration (the old notes).
As of 5:00 p.m., New York City time, on May 11, 2011, $89 million in aggregate principal
amount of the old notes (or approximately 98.89% of the old notes) had been tendered pursuant to
the exchange offer. The exchange offer has been extended in order to allow additional time for the
holders of the remaining $1 million aggregate principal amount of the old notes to participate in
the exchange offer.
Except for the extension of the expiration date of the exchange offer for the $90 million of
outstanding 11% Senior Secured Notes due 2015, all other terms, conditions and provisions of the
exchange offer remain effective as of the date hereof.
Questions concerning the delivery of appropriate documentation and the old notes should be
directed to the exchange agent, U.S. Bank National Association, attention Specialized Finance
Department, at (800) 934-6802.
The old notes have not been registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an applicable exemption from
registration requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of, these securities in any state in
which such offer, solicitation or sale would be unlawful prior to the registration or qualification
under the securities laws of any such state.
Vector Group is a holding company that indirectly owns Liggett Group LLC and Vector Tobacco
Inc. and directly owns New Valley LLC.
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