Federal-Mogul (FDML) to Delay Refinancing Activities; Cites Market Conditions (IEP)
, Federal-Mogul Corporation (Nasdaq: FDML), a majority owned subsidiary of Icahn Enterprises L.P. (Nasdaq: IEP) and Icahn Enterprises Holdings L.P., announced that due to volatile market conditions, it intends to defer its refinancing activities. In addition, Federal-Mogul has extended the expiration date of its rights offering to July 1, 2013 and will permit rights holders to elect to withdraw the exercise of any previously exercised subscription rights. Federal-Mogul has filed an amendment to its prospectus supplement, dated June 7, 2013, with the Securities and Exchange Commission (the âSECâ) setting forth additional information regarding the extension of the rights offering and withdrawal rights.
The rights offering is being made pursuant to a shelf registration statement on Form S-3 that was previously filed by Federal-Mogul with the SEC and became effective on May 1, 2013. The rights offering is being made solely by means of the prospectus and prospectus supplement, as amended, that was filed with the SEC on June 7, 2013. Additional information regarding the rights offering is set forth in the prospectus supplement, as amended, that was filed with the SEC on June 7, 2013.Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW *NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here begin ad tag (tile=12) -- End ad tag --