November 30, 2009 (FinancialWire) — Altra Holdings, Inc. (Altra Holdings) (NASDAQ: AIMC), announced the closing of its offering of $210.0 million 8 1/8% Senior Secured notes due 2016 (the offering). The offering resulted in net proceeds to the company, after deducting initial purchaser discounts and estimated expenses, of approximately $201.9 million.

Concurrently with the consummation of the offering, Altra Industrial entered into a new three year senior secured revolving credit facility among Altra Industrial, the guarantors named therein, and JPMorgan Chase Bank, N.A., as administrative agent and the sole initial lender, in the amount of up to $50.0 million.

Altra Holdings also said its wholly-owned subsidiary, Altra Industrial Motion, Inc. (Altra Industrial), has accepted for purchase $167.9 million aggregate principal amount of its 9% Senior Secured notes due 2011 (the “Notes), or approximately 82% of the total outstanding, which were validly tendered prior to the early tender deadline of 5: 00 p.m., Eastern Standard time, on November 24, 2009 (the “Early Tender Deadline), pursuant to Altra Industrial’s previously announced cash tender offer (the “Tender Offer). Altra Industrial’s total obligations for this portion of the Tender Offer equal $179,401,150 (the “Early Tender Total Consideration), and consist of: (i) $167,900,000 of base consideration for the aggregate principal amount of the notes tendered pursuant to the Tender Offer;  $7,303,650 of accrued and unpaid interest on the tendered Notes; and  $4,197,500 of early tender premium. Altra Industrial used all of the offering’s net proceeds, together with cash on hand, to pay the Early Tender Total Consideration.

As previously announced, the Tender Offer will expire at 12: 00 midnight, Eastern Standard time, on December 9, 2009, unless extended or earlier terminated (the “Expiration Time). Also as previously announced, those who tender their notes prior to the expiration of the Tender Offer will receive any accrued and unpaid interest on the notes up to, but not including, the payment date, but only those who tendered their notes prior to the Early Tender Deadline received an early tender premium of $25.00 per $1,000 principal amount of the Notes.

Altra Industrial received waivers of rights to written notice of redemption from approximately 82% of the outstanding Notes. As a result, on November 25, 2009, Altra Industrial delivered a Notice of Redemption and Waiver effective December 10, 2009, to the holders of notes that remained outstanding following the Early Tender Deadline and deposited with the depositary funds in the amount of $40,008,650 sufficient to pay and discharge the entire remaining indebtedness on the Notes. Altra Industrial will redeem all notes that remain outstanding after the Tender Offer is consummated on December 10, 2009.

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Free annual reports, filings and conference call webcasts for companies mentioned in the news are available via Investrend Syndications (http://investrend.ar.wilink.com/?level=279). The most recently issued reports and/or recorded webcasts include Bellway PLC (London Stock Exchange: BWY) (OTC: BLWYF), British Assets Trust PLC (London Stock Exchange: BSET), Sopra Group (Paris Stock Exchange: SOPR) (OTC: SRAQF), Universal Display Corp. (NASDAQ: PANL), Charteris PLC (Berlin Stock Exchange: EQH), British Empire Securities & General Trust PLC (London Stock Exchange: BTEM), Eaton Vance Enhanced Equity Income Fund (NYSE: EOY), Denbury Resources, Inc. (NYSE: DNR), D.R. Horton, Inc. (NYSE: DHI) and Analogic Corp. (NASDAQ: ALOG).

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