Olympus Merger Sub, Inc. Announces Termination of Change of Control Offer to Purchase 5.375% Senior Notes Due 2022
NEW YORK--(BUSINESS WIRE)-- Olympus Merger Sub, Inc. (the “Offeror”), an affiliate of certain investment funds managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO), announced that it has terminated its previously announced change of control offer to purchase West Corporation’s (“West”) 5.375% Senior Notes due 2022 (the “2022 Notes”). Accordingly, any previous tenders of 2022 Notes in the change of control offer to purchase will not be accepted and will be promptly returned and holders of the 2022 Notes may only tender their 2022 Notes pursuant to the tender offer to purchase for cash any and all of the 2022 Notes and related consent solicitation (the “Tender Offer and Consent Solicitation”) commenced on September 6, 2017 by the Offeror. The change of control offer to purchase the 4.75% Senior Secured Notes due 2021 (the “2021 Notes”, together with the 2022 Notes, the “Notes”) has not been terminated and continues with an expiration date of October 6, 2017.
The change of control offer with respect to the 2022 Notes has been terminated since the Offeror has received the requisite consents to amendments, which will (when operative) eliminate the provision requiring West (or a third party on its behalf) to make a change of control offer upon the occurrence of a change of control.
The Tender Offer and Consent Solicitation are subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated September 6, 2017, relating thereto (the “Offer to Purchase and Consent Solicitation Statement”), none of which terms and conditions are altered hereby. The Tender Offer and Consent Solicitation remains in effect in accordance with its terms.
This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to purchase with respect to any Notes. The Tender Offer and the Consent Solicitation are being made solely pursuant to the Offer to Purchase and Consent Solicitation Statement and related documents. The Tender Offer and Consent Solicitation are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offer and Consent Solicitation to be made by a licensed broker or dealer, the Tender Offer and Consent Solicitation will be deemed to be made on behalf of the Offeror by the Dealer Managers, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $232 billion as of June 30, 2017 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.
This press release contains forward-looking statements within the meaning of applicable federal securities laws. The forward-looking statements include, without limitation, statements concerning the Tender Offer and Consent Solicitation. Forward-looking statements involve risks and uncertainties, including but not limited to economic, competitive, and technological factors outside the Offeror’s or West’s control that may cause actual results to differ materially from the forward-looking statements. You should not place undue reliance on forward-looking statements as a prediction of actual results. The Offeror expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in expectations or events, conditions or circumstances on which any such statements are based.
For investor inquiries regarding Apollo:
Apollo Global Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate Communications
Apollo Global Management, LLC
Noah Gunn, 212-822-0540
Investor Relations Manager
For media inquiries regarding Apollo:
Rubenstein Associates, Inc. for Apollo Global Management, LLC
Charles Zehren, 212-843-8590
Source: Apollo Global Management, LLC
Released October 5, 2017