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Washington Mutual Announces Final Results of Tender Offer for 4% Convertible Senior Notes due May 15, 2008
Business Wire, Nov 7, 2005
SEATTLE -- New American Capital, Inc. (the "Company"), a wholly owned subsidiary of Washington Mutual, Inc. (NYSE:WM), announced today the final results of its previously announced cash tender offer for any and all of its outstanding 4% Convertible Senior Notes due 2008 (the "Notes"). The Notes were originally issued by Providian Financial Corporation ("Providian Financial") in May 2003 and were assumed by the Company in connection with its merger with Providian Financial on October 1, 2005. The indenture governing the Notes required the Company to make the offer as a result of the fundamental change of Providian Financial that resulted from the merger.
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The offer for the Notes expired at 5:00 p.m., Eastern time, on Friday, November 4, 2005. The Company has been advised by J.P. Morgan Trust Company, National Association, which acted as depositary and paying agent for the offer, that $5,000 aggregate principal amount of the Notes were validly tendered pursuant to the terms of the offer prior to its expiration.
About Washington Mutual
With a history dating back to 1889, Washington Mutual is a retailer of financial services that provides a diversified line of products and services to consumers and commercial clients. At September 30, 2005, Washington Mutual and its subsidiaries had assets of $333.62 billion. Washington Mutual currently operates more than 2,500 retail banking, mortgage lending, commercial banking and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamunewsroom.com.
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