Press Releases
09/28/2012

Re: Bondholders’ Intention concerning Amendment to the Terms and Conditions (Extension of Maturity Date, Increase in Interest Rate, Increase in Redemption Amount, etc.) and Offer to Purchase of the 1st Series Unsecured Bonds (part 2)

Covalent Materials Corporation (the “Company”) announced in the press release “Re: Bondholders’ Intention concerning Amendment to the Terms and Conditions (Extension of Maturity Date, Increase in Interest Rate, Increase in Redemption Amount, etc.) and Offer to Purchase of the 1st Series Unsecured Bonds”, dated September 14, 2012, that a group of bondholders expressed their intention related to the bondholders meeting, as well as the offer to purchase of the 1st Series Unsecured Bonds (the “Bonds”).

Today, the Company was informed by a group of bondholders (the “Group”) represented by Blackstone Advisory Partners L.P., that approximately 65% of the total Bonds outstanding have agreed to vote in favor of the proposal at the bondholders meeting and tender all Bonds held by them into the purchase offer at the terms referred to in the press release “Re: Holding of Bondholders Meeting concerning Amendment to the Terms and Conditions (Extension of Maturity Date, Increase in Interest Rate, Increase in Redemption Amount, etc.) and Offer to Purchase of the 1st Series Unsecured Bonds”, dated September 13, 2012.

Furthermore, based on voting forms received by the Company to date, and combined with the Group’s holdings, the Company believes it will receive more than 2/3 of the total outstanding Bonds voting in favor of the proposal at the bondholder meeting.

For details related to the proposal and the conditions of the purchase offer, please refer to the press release “Re: Holding of Bondholders Meeting concerning Amendment to the Terms and Conditions (Extension of Maturity Date, Increase in Interest Rate, Increase in Redemption Amount, etc.) and Offer to Purchase of the 1st Series Unsecured Bonds”, dated September 13, 2012.

* For inquiries regarding the bondholders meeting:
Accounting & Finance, Finance Group,
Covalent Materials Corporation
For English communication, please contact us at the E-mail address below.
(E-mail: IR-contact@covalent.co.jp Mobile: +81-70-6526-8230)

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