Ethan Allen Announces Redemption of Senior Notes Due October 2015
(Thomson Reuters ONE) -
Ethan Allen Interiors Inc. ("Ethan Allen" or the "Company") (NYSE: ETH) today
announced that its wholly owned subsidiary, Ethan Allen Global, Inc., has
delivered a Notice of Redemption (the "Notice") to holders of the outstanding
5.375% Senior Notes due October 2015 (the "Notes"). The Notice called for the
redemption of the remaining $129.4 million aggregate principal amount of Notes
currently outstanding. Pursuant to the terms of the indenture governing the
notes, Ethan Allen will redeem the outstanding notes at a redemption price equal
to (a) the greater of (i) 100% of the principal amount to be redeemed or (ii)
the sum of the present values of the remaining scheduled payments of principle
and interest thereon from the date of redemption to the date of maturity (except
for currently accrued but unpaid interest) discounted to the date of redemption,
on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months), at the applicable Treasury Rate, plus twenty basis points (such greater
amount, the "Redemption Price"), plus (b) accrued and unpaid interest, if any,
to the date of redemption. The redemption date is March 18, 2015.
The Notice was mailed on February 13, 2015 to record holders of the notes by
U.S. Bank National Association, Corporate Trust Services, 111 Fillmore Avenue
E., St. Paul, MN 55107, as trustee under the indenture governing the notes.
Additional information concerning the terms and conditions of the redemption are
fully described in the Notice distributed to holders of the Notes. Beneficial
holders with any questions about the redemption should contact their respective
brokerage firm or financial institution.
This press release is for informational purposes only and shall not constitute
an offer to purchase the Notes or any other securities.
This press release should also be read in conjunction with the Company's Annual
Report on Form 10-K for the year ended June 30, 2014 (the "2014 Form 10-K") and
other reports filed with the Securities and Exchange Commission. This press
release and related discussions contain forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements reflect management's current expectations
concerning future events and results of the Company, and are subject to various
assumptions, risks and uncertainties including specifically, and without
limitation, those set forth in Part I, Item 1A "Risk Factors" of the 2014 Form
10-K. Accordingly, actual future events or results could differ materially from
those contemplated by the forward-looking statements. The Company assumes no
obligation to update or provide revision to any forward-looking statement at any
time for any reason.
About Ethan Allen
Ethan Allen Interiors Inc. (NYSE: ETH) is a leading interior design company and
manufacturer and retailer of quality home furnishings. The company offers
complimentary interior design service to its clients and sells a full range of
furniture products and decorative accessories through ethanallen.com and a
network of approximately 300 Design Centers in the United States and abroad.
Ethan Allen owns and operates eight manufacturing facilities including five
manufacturing plants and one sawmill in the United States plus one plant in each
of Mexico and Honduras. Approximately seventy percent of its products are made
in its North American plants. For more information on Ethan Allen's products and
services, visit ethanallen.com.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ethan Allen Interiors Inc. via GlobeNewswire
[HUG#1894594]
Unternehmensinformation / Kurzprofil:
Datum: 13.02.2015 - 22:00 Uhr
Sprache: Deutsch
News-ID 371684
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