Global Aviation Holdings Inc. today announced its Semi-Annual Offer to Repurchase $10,000,000 aggregate principal amount of the company’s 14% Senior Secured First Lien Notes due 2013 at a purchase price in cash equal to 100 percent of their principal amount, plus accrued and unpaid interest, if any, to, but not including the date of purchase.
Holders who wish to accept the Semi-Annual Offer to Repurchase must fill out the Option of Holder to Elect Purchase Notice, stating the portion of the principal amount of Notes that the Holder will deliver to be purchased (must be a principal amount of $1,000 or an integral multiple of $1,000 in excess thereof).
Holders whose Notes are purchased only in part shall be issued new Notes equal in principal amount to the un-purchased portion of the Notes surrendered (or transferred by book-entry transfer) representing the same indebtedness to the extent not repurchased.
A Holder may exercise its rights to receive the Semi-Annual Purchase Price by delivering the Option of Holder to Elect Purchase Notice to the Trustee (which may be delivered by letter, overnight courier, hand delivery, facsimile transmission or in any other written form) and, in the case of global securities, may be delivered electronically or by other means in accordance with the applicable procedures of the Depository Trust Company prior to the expiration of this offer at 5:00 p.m. Eastern Time, on Jan. 31, 2011. The company anticipates purchasing the surrendered Notes as of Feb. 3, 2011, unless the company is required to extend the expiration date beyond Jan. 31, 2011.
All notices delivered to the Trustee (which is also acting as the Paying Agent) shall be directed to the following address:
|Wells Fargo Bank, National Association|
|7000 Central Parkway|
|Atlanta, Georgia 30328|
|Attention: Stefan Victory|
|Telephone: (770) 551-5117|
|Facsimile: (770) 551-5118|
Global Aviation Holdings Inc., based in Peachtree City, Ga., is the parent company of North American Airlines and World Airways. Global is the largest commercial provider of charter air transportation for the U.S. military, and a major provider of worldwide commercial global passenger and cargo air transportation services. North American Airlines, founded in 1989 and based in Jamaica, N.Y., operates passenger charter flights using B757-200ER and B767-300ER aircraft. World Airways, founded in 1948 and based in Peachtree City, Ga., operates cargo and passenger charter flights using B747-400 and MD-11 aircraft. For more information, visit www.glah.com.
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