Lear Corporation Extends Expiration Date on Exchange Offer for its Outstanding 5 3/4% Senior Notes due 2014
Southfield, Mich., April 4, 2005 -- Lear Corporation [NYSE: LEA]
announced today that it is extending until 5:00 p.m., New York City
time, on April 4, 2005, unless further extended, the expiration date of
its registered exchange offer (the "Exchange Offer") for all of its
outstanding 5 3/4% Senior Notes due 2014 (the "Old Notes"). In its
Exchange Offer, Lear is offering to exchange $1,000 in principal amount
of its 5 3/4% Senior Notes due 2014, which have been registered under
the Securities Act of 1933 (the "New Notes"), for each $1,000 in
principal amount of the Old Notes.
As of 5:00 p.m., New York City time, on April 1, 2005, the original
expiration date of the Exchange Offer, the exchange agent for the
Exchange Offer advised the company that $392,630,000, or 98.16%, of the
unregistered Old Notes had been validly tendered, excluding Old Notes
for which a notice of guaranteed delivery was received.
The Exchange Offer is subject to the terms and conditions set forth
in the prospectus, dated March 4, 2005, and the corresponding letter of
transmittal distributed in connection with the Exchange Offer. Other
than the extension of the expiration date of the Exchange Offer, all
other terms and conditions of the Exchange Offer set forth in such
prospectus and letter of transmittal remain in full force and effect.
Anyone who would like to obtain copies of the prospectus and related
documents, or with questions regarding the Exchange Offer, should
contact BNY Midwest Trust Company, the exchange agent for the Exchange
Offer, at (212) 815-5920.
Lear Corporation, a Fortune 500 company headquartered in Southfield,
Mich., USA, focuses on integrating complete automotive interiors,
including seat systems, interior trim and electrical systems. With
annual net sales of $17 billion in 2004, Lear is one of the world's
largest automotive interior systems suppliers. The company's
world-class products are designed, engineered and manufactured by more
than 110,000 employees in 34 countries. Further information about Lear
and its products is available on the Internet at www.lear.com.
Posted on 4/4/2005