HNI announced the commencement of an offer to exchange (the ?Exchange Offer?) any and all outstanding 5.125% Notes due 2029 (the ?Existing Steelcase Notes?), as issued by Steelcase, for up to $450,000,000 aggregate principal amount of new notes to be issued by HNI (the ?New HNI Notes?), as set forth in the table below. The New HNI Notes will be guaranteed by certain subsidiaries of the combined company. Each New HNI Note issued in the Exchange Offer for a validly tendered Existing Steelcase Note will have an interest rate and maturity date that is identical to the interest rate and maturity date of the tendered Existing Steelcase Note, as well as identical interest payment dates and optional redemption prices.
The following table sets forth the Consent Payment, Exchange Consideration, Early Tender Payment and Total Exchange Consideration for Existing Steelcase Notes for which the New HNI Notes are being offered: Title of Existing Steelcase Notes: 5.125% Senior Notes due 2029; Maturity Date: January 18, 2029; Aggregate Principal Amount Outstanding: $450,000,000.
