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International Wire Group Holdings, Inc. Closes $100,000,000 Senior PIK Toggle Notes Offering, Declares Special Distribution and

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  Published in House and Home on Tuesday, June 7th 2011 at 20:40 GMT by Market Wire
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CAMDEN, N.Y.--([ BUSINESS WIRE ])--International Wire Group Holdings, Inc. ("Holdings") (Pink Sheets: ITWG) announced today that it has closed the private offering of $100.0 million principal amount of its 11.50%/12.25% Senior PIK Toggle Notes due 2015 (the "Notes").

Holdings received $100.0 million in gross proceeds from the Notes offering (the "Offering"), which will be used to make a special distribution to its stockholders and option holders of $9.14 per share or option, or approximately $100.0 million in the aggregate. The record date for the distribution is June 17, 2011, and the payment date will be June 30, 2011.

As previously announced, International Wire Group, Inc. (aIWGa) completed a holding company reorganization in connection with the Offering. In the reorganization, holders of IWG common stock received one share of Holdings common stock for each share of IWG common stock that they owned. The common stock of Holdings will continue to trade under the aITWGa ticker symbol. All then-outstanding options to purchase shares of IWG common stock became options to purchase shares of Holdings common stock.

Following the holding company reorganization, IWG is a wholly owned subsidiary of Holdings. Accordingly, the previously announced annual meeting of IWGa™s stockholders scheduled for June 16, 2011 will not take place. An annual meeting of the stockholders of Holdings will occur on July 21, 2011. Record holders of Holdings common stock on June 2, 2011 will be entitled to receive notice of and vote at that meeting.

The Notes have not been and will not be registered under the U.S. 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 for the account or benefit of any United States citizen or in any way distributed in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes in the United States. The Notes will not be sold in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Forward-Looking Information is Subject to Risk and Uncertainty

Certain statements in this release may constitute aforward-lookinga statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words abelieves,a aexpects,a amay,a awill,a awould,a ashould,a aseeks,a apro forma,a aanticipates,a aintends,a aplans,a aestimates,a or the negative of any thereof or other variations thereof or comparable terminology, or by discussions of strategy or intentions. These statements are not guarantees of future actions or performance and involve risks, uncertainties and assumptions as to future events that may not prove to be accurate. Actual actions or results may differ materially from what is expressed or forecasted in these forward-looking statements as we may be unable to make the distribution to stock and option holders described above. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Many important factors could cause our results to differ materially from those expressed in these forward-looking statements. These factors include, but are not limited to, general market conditions, national or global events affecting the capital markets, unforeseen developments in our business or industry or changes in law or regulations governing our ability to complete the distribution.

About International Wire Group Holdings, Inc.

International Wire Group Holdings, Inc., through its wholly owned subsidiary, manufactures and markets wire products, including bare, silver-plated, nickel-plated and tin-plated copper wire, for other wire suppliers, distributors and original equipment manufacturers. Its products include a broad spectrum of copper wire configurations and gauges with a variety of electrical and conductive characteristics and are utilized by a wide variety of customers primarily in the aerospace, appliance, automotive, electronics/data communications, industrial/energy and medical device industries. Holdings, through its wholly owned subsidiary, manufactures and distributes its products currently at 18 facilities located in the United States, Belgium, France and Italy.

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