W. R. Grace Holdings LLC and W. R. Grace & Co.-Conn. Announce Results of Early Participation in Exchange Offers and Consent Solicitations

NEW YORK, Aug. 16, 2021 (GLOBE NEWSWIRE) — W. R. Grace Holdings LLC (formerly known as Gibraltar Acquisition Holdings LLC) (“Holdings”) and W. R. Grace & Co. (NYSE: GRA) (“Grace”) today announced that, in connection with the previously announced offers to eligible holders to exchange (each, an “Exchange Offer” and collectively, the “Exchange Offers”) any and all outstanding notes issued by W. R. Grace & Co.-Conn. (the “Grace Issuer”) as set forth in the table below (the “Existing Grace Notes”) for (1) up to $1,050,000,000 aggregate principal amount of new notes issued by Holdings (the “New Secured Notes”) and (2) cash, and related consent solicitations (each, a “Consent Solicitation” and, collectively, the “Consent Solicitations”) to adopt certain proposed amendments to each of the indentures governing the Existing Grace Notes to eliminate certain of the covenants, restrictive provisions, events of default and guarantee provisions from such indentures (the “Indenture Amendments”), Grace has received the requisite number of consents to adopt the Indenture Amendments with respect to each of the two outstanding series of Existing Grace Notes that are subject to the Exchange Offers and Consent Solicitations. Grace intends to promptly enter into a supplemental indenture with the trustee for the Existing Grace Notes (the “Supplemental Indenture”) to effect the Indenture Amendments.

 

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