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HNH > SEC Filings for HNH > Form 8-K on 27-Mar-2013All Recent SEC Filings

Show all filings for HANDY & HARMAN LTD. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for HANDY & HARMAN LTD.


Other Events

Item 8.01. Other Events.
On March 26, 2013, Handy & Harman Group Ltd. ("HNH Group"), a wholly-owned subsidiary of Handy & Harman Ltd. (the "Company"), instructed Wells Fargo Bank, National Association ("Wells Fargo"), as trustee and collateral agent, to deliver an irrevocable notice of HNH Group's election to redeem all of its outstanding 10% subordinated secured notes due 2017 (the "Subordinated Notes") to the holders of the Subordinated Notes. Pursuant to the terms of that certain amended and restated indenture, dated as of December 13, 2010, as amended (the "Indenture"), by and among HNH Group, the guarantors named therein and Wells Fargo, as trustee and collateral agent, HNH Group has instructed Wells Fargo to redeem, on April 25, 2013, approximately $31.8 million principal amount of Subordinated Notes, representing all of the outstanding Subordinated Notes, at a redemption price equal to 112.6% of the principal amount and accrued but unpaid payment-in-kind-interest thereof, plus accrued and unpaid cash interest. The Subordinated Notes are part of a unit ("Unit"), and each Unit consists of (i) Subordinated Notes and (ii) warrants to purchase shares of common stock of the Company (the "Warrants"). Until October 14, 2013, the Notes and Warrants which comprise the Unit are not detachable, and accordingly all Units are also being redeemed. On March 26, 2013, HNH Group irrevocably deposited with Wells Fargo the necessary funds for such redemption and interest payment in order to satisfy and discharge its obligations under the Indenture upon such deposit.

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: March 27, 2013 By: /s/ Leonard J. McGill Name: Leonard J. McGill Senior Vice President, Chief Legal Officer & Assistant Title: Secretary

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