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Vector Group Ltd. Announces Private Offering of $75 Million Aggregate Principal Amountof 11% Senior Secured Notes

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  Published in House and Home on Tuesday, November 30th 2010 at 4:11 GMT by Market Wire
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MIAMI--([ BUSINESS WIRE ])--Vector Group Ltd. (NYSE: VGR) (the aCompanya) announced today that it is offering $75million aggregate principal amount of 11% Senior Secured Notes due 2015 (the aNotesa) to qualified institutional buyers in accordance with Rule144A under the Securities Act of 1933, as amended (the aSecurities Acta), and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes will be fully and unconditionally guaranteed on a joint and several basis by all of the wholly owned domestic subsidiaries of the Company that are engaged in the conduct of the Companya™s cigarette businesses.

The Company intends to use the net proceeds of the issuance for general corporate purposes.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes. The Notes have not been registered under the Securities Act, or the securities laws of any other jurisdiction. Unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and the applicable securities laws of any other jurisdiction.

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as aanticipatesa, abelievesa, aestimatesa, aexpectsa, aplansa, aintendsa and similar expressions. These statements reflect the Companya™s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Companya™s actual results, performance or achievements to differ materially from those expressed in, or implied by, such statements.

Vector Group is a holding company that indirectly owns Liggett Group LLC and Vector Tobacco Inc. and directly owns New Valley LLC.