SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 11, 2012
LIBBEY INC.
(Exact name of registrant as specified in its charter)
Delaware | 1-12084 | 34-1559357 | ||
(State of incorporation) | (Commission File Number) | (IRS Employer identification No.) |
300 Madison Avenue Toledo, Ohio |
43604 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (419) 325-2100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure.
On May 11, 2012, Libbey Inc. (Libbey) issued a press release announcing that its wholly owned subsidiary Libbey Glass Inc. has priced its previously announced private placement of $450 million aggregate principal amount of senior secured notes due 2020. In addition, on May 11, 2012, Libbey issued a press release announcing that the expiration date had occurred for holders to tender their 10% senior secured notes due 2015 and deliver consents and receive the total consideration pursuant to the previously announced tender offer . A copy of the press releases are furnished as Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K and is incorporated by reference herein.
Libbey is furnishing under Item 7.01 of this Current Report on Form 8-K the information contained in Exhibit 99.1 and Exhibit 99.2, which includes certain information that has not been previously reported to the public and is incorporated by reference herein.
The information contained in this Item 7.01 shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, unless the Company specifically incorporates it by reference in a document filed under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. By filing this Current Report on Form 8-K and furnishing this information, Libbey makes no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD.
Item 9.01. Financial Statements and Exhibits.
Exhibit | ||
99.1 | Press Release dated May 11, 2012, Announcing Pricing of $450 Million of Senior Secured Notes. | |
99.2 | Press Release dated May 11, 2012 Announcing Expiration of Early Tender Period For Its Tender Offer and Consent Solicitation For Its 10% Senior Secured Notes Due 2015. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 11, 2012
LIBBEY INC. | ||
By: | /s/ Susan A. Kovach | |
Name: Susan A. Kovach | ||
Title: Vice President, General Counsel and Secretary |
Exhibit Index
Exhibit Number | Description | |
Exhibit 99.1 | Press Release dated May 11, 2012, Announcing Pricing of $450 Million of Senior Secured Notes. | |
Exhibit 99.2 | Press Release dated May 11, 2012, Announcing Expiration of Early Tender Period For Its Tender Offer and Consent Solicitation For Its 10% Senior Secured Notes Due 2015. |
Exhibit 99.1
AT THE COMPANY:
Kenneth Boerger
VP/Treasurer
(419) 325-2279
FOR IMMEDIATE RELEASE
FRIDAY, MAY 11, 2012
LIBBEY PRICES $450 MILLION OF SENIOR SECURED NOTES DUE 2020
TOLEDO, OHIO, MAY 11, 2012Libbey Inc. (NYSE Amex: LBY) (Libbey or Company) announced today that its wholly owned subsidiary Libbey Glass Inc. (Libbey Glass) has priced $450 million aggregate principal amount of 6.875% senior secured notes due 2020 (the Notes) in a private placement at par. The sale of the Notes is expected to close on May 18, 2012, subject to customary closing conditions.
The Company and Libbey Glass intend to use the net proceeds from the sale of the Notes, together with cash on hand and borrowings under the Amended and Restated Senior Secured Credit Agreement (as defined below), to (i) repurchase up to $320 million of the existing Libbey Glass 10% Senior Secured Notes due 2015 in a previously announced tender offer, (ii) redeem $40 million in aggregate principal amount of the existing notes that remain outstanding after consummation of the tender offer, (iii) pay related fees and expenses and (iv) contribute $79.7 million to the Companys U.S. pension plans to fully fund its target obligations under ERISA. The sale of the Notes is contingent upon certain conditions, including the consummation of the Tender Offer and the consummation of certain amendments to the existing Amended and Restated Senior Secured Credit Agreement (the Amended and Restated Senior Secured Credit Agreement) to which Libbey Glass and its direct wholly owned subsidiary Libbey Europe B.V., as borrowers, and Libbey and certain of Libbey Glass's existing and future subsidiaries, as guarantors, are party.
The Notes, the Libbey guarantee of the Notes and the subsidiary guarantees of the Notes will not be registered under the Securities Act of 1933, as amended (the Securities Act), or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements. The Notes are being offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and to non-U.S. persons in accordance with Regulation S under the Securities Act.
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Libbey Inc.
Add 1
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Libbey Inc.:
| is the largest manufacturer of glass tableware in the western hemisphere and one of the largest glass tableware manufacturers in the world; |
| is the leading manufacturer of tabletop products for the U.S. foodservice industry; and |
| supplies products to foodservice, retail, industrial and business-to-business customers in over 100 countries. |
Based in Toledo, Ohio, since 1888, the Company operates glass tableware manufacturing plants in the United States in Louisiana and Ohio, as well as in Mexico, China, Portugal and the Netherlands. Its Crisa subsidiary, located in Monterrey, Mexico, is the leading producer of glass tableware in Mexico and Latin America. Its Royal Leerdam subsidiary, located in Leerdam, Netherlands, is among the world leaders in producing and selling glass stemware to retail, foodservice and industrial clients. Its Crisal subsidiary, located in Portugal, provides an expanded presence in Europe. Its Libbey China subsidiary is located in Langfang, China. Its Syracuse China subsidiary designs and distributes an extensive line of high-quality ceramic dinnerware, principally for foodservice establishments in the United States. Its World Tableware subsidiary imports and sells a full-line of metal flatware and hollowware and an assortment of ceramic dinnerware and other tabletop items principally for foodservice establishments in the United States. In 2011, the Companys net sales totaled $817.1 million.
This press release includes forward-looking statements as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements reflect only the Company's best assessment at this time and are indicated by words or phrases such as "goal," "expects," " believes," "will," "estimates," "anticipates," or similar phrases. Investors are cautioned that forward-looking statements involve risks and uncertainty and that actual results may differ materially from these statements, and that investors should not place undue reliance on such statements. These forward-looking statements may be affected by the risks and uncertainties in the Company's business and the capital markets. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in the Company's Securities and Exchange Commission filings, including the Company's report on Form 10-K filed with the Commission on March 14, 2012.
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Exhibit 99.2
AT THE COMPANY:
Kenneth Boerger
VP/Treasurer
(419) 325-2279
FOR IMMEDIATE RELEASE
FRIDAY, MAY 11, 2012
LIBBEY ANNOUNCES EXPIRATION OF EARLY TENDER
PERIOD FOR ITS TENDER OFFER AND CONSENT
SOLICITATION FOR ITS 10% SENIOR SECURED NOTES DUE 2015
(CUSIP No. 52989LAE9)
TOLEDO, OHIO, MAY 11, 2012Libbey Inc. (NYSE Amex: LBY) (Libbey or Company) announced today, in connection with the previously announced cash tender offer (the "Tender Offer") by Libbey Glass Inc. (Libbey Glass) to purchase up to $320.0 million of its outstanding $360.0 million aggregate principal amount of 10% Senior Secured Notes due 2015 (the "Notes") and consent solicitation (the "Consent Solicitation" and, together with the Tender Offer, the "Offer"), that as of 5:00 p.m. New York City time, on May 11, 2012, the expiration date had occurred for holders to tender Notes and deliver consents and receive the total consideration pursuant to the Offer, and that it had received, as of 5:00 p.m. New York City time, on May 11, 2012, tenders and consents from holders of $356.1 million in aggregate principal amount, representing 98.91% of the total outstanding principal amount of the Notes. The early settlement date is expected to be May 18, 2012. The tender offer is scheduled to expire at 11:59 p.m., New York City time, on May 25, 2012, unless extended by Libbey Glass.
Libbey Inc.:
| is the largest manufacturer of glass tableware in the western hemisphere and one of the largest glass tableware manufacturers in the world; |
| is the leading manufacturer of tabletop products for the U.S. foodservice industry; and |
| supplies products to foodservice, retail, industrial and business-to-business customers in over 100 countries. |
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Libbey Inc.
Add 1
Based in Toledo, Ohio, since 1888, the Company operates glass tableware manufacturing plants in the United States in Louisiana and Ohio, as well as in Mexico, China, Portugal and the Netherlands. Its Crisa subsidiary, located in Monterrey, Mexico, is the leading producer of glass tableware in Mexico and Latin America. Its Royal Leerdam subsidiary, located in Leerdam, Netherlands, is among the world leaders in producing and selling glass stemware to retail, foodservice and industrial clients. Its Crisal subsidiary, located in Portugal, provides an expanded presence in Europe. Its Libbey China subsidiary is located in Langfang, China. Its Syracuse China subsidiary designs and distributes an extensive line of high-quality ceramic dinnerware, principally for foodservice establishments in the United States. Its World Tableware subsidiary imports and sells a full-line of metal flatware and hollowware and an assortment of ceramic dinnerware and other tabletop items principally for foodservice establishments in the United States. In 2011, the Companys net sales totaled $817.1 million.
This press release includes forward-looking statements as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements reflect only the Company's best assessment at this time and are indicated by words or phrases such as "goal," "expects," " believes," "will," "estimates," "anticipates," or similar phrases. Investors are cautioned that forward-looking statements involve risks and uncertainty and that actual results may differ materially from these statements, and that investors should not place undue reliance on such statements. These forward-looking statements may be affected by the risks and uncertainties in the Company's business and the capital markets. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in the Company's Securities and Exchange Commission filings, including the Company's report on Form 10-K filed with the Commission on March 14, 2012.
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