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Enterprise Holdings Announces Final Results for Debt Tender Offer

Enterprise Holdings Inc. announced the final results for the previously announced tender offer by its indirect, wholly owned subsidiary, ARG Funding Corp., to purchase for cash any and all of its rental car asset backed notes specified in the offer to purchase, dated Sept. 18, 2009, as amended and supplemented, and the related letter of transmittal.

by Staff
October 21, 2009
2 min to read


Enterprise Holdings Inc. announced the final results for the previously announced tender offer by its indirect, wholly owned subsidiary, ARG Funding Corp., a special purpose Delaware corporation, to purchase for cash any and all of its rental car asset backed notes specified in the offer to purchase, dated Sept. 18, 2009, as amended and supplemented, and the related letter of transmittal. The tender offer expired at midnight, New York City time, on Oct. 16, 2009.

The following table summarizes the aggregate principal amount of notes outstanding on the date that the tender offer was commenced and the principal amount of notes validly tendered and not validly withdrawn as of the expiration date:

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CUSIP Number


Description of Security


Aggregate Principal Amount Outstanding*


Principal Amount of Notes Tendered








00204ABG5


Series 2005-1 4.29% Rental Car Asset Backed Notes, Class A-3


$350,000,000


$291,280,000

00204ABH3


Series 2005-1 Floating Rate Rental Car Asset Backed Notes, Class A-4


$200,000,000


$200,000,000

00204ABP5


Series 2005-2 4.84% Rental Car Asset Backed Notes, Class A-4


$167,000,000


$167,000,000

00204ABQ3


Series 2005-2 Floating Rate Rental Car Asset Backed Notes, Class A-5


$400,000,000


$352,125,000

* Principal amount outstanding as of Sept. 18, 2009 All of the notes that were tendered in the tender offer were tendered prior to the early expiration date for the tender offer (Sept. 30, 2009) and the company accepted and paid for all such notes on the initial settlement date (Oct. 5, 2009). No additional notes were tendered in the tender offer after the early participation date and prior to the expiration date. Additionally, as previously announced, on Oct. 20, 2009, the company will effect an optional repurchase of all notes that remain outstanding. Barclays Capital Inc. and J.P. Morgan Securities Inc. acted as the dealer managers for the tender offer. The information agent and depositary for the tender offer was Global Bondholders Services Corporation.

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