Allison Transmission, Inc. Announces Final Results of Cash Tender Offer for its 11.25% Senior Toggle Notes Due 2015

USA - English

• USA - English

INDIANAPOLIS, May 13, 2011 /PRNewswire/ -- Allison Transmission, Inc. announced on Friday, May 13, 2011, the final results of its previously announced cash tender offer to purchase any and all of its outstanding 11.25% Senior Toggle Notes due 2015 (referred to below as the "notes"), as of the expiration date, which was 12:00 midnight, New York City time, on May 12, 2011.  As previously announced, $467,905,740 aggregate principal amount of the notes had been tendered at or prior to 5 p.m. New York City time on April 26, 2011, and were accepted for purchase by Allison and settled on May 6, 2011.  Between April 26, 2011 and the expiration date, an additional $175,000 aggregate principal amount of notes were tendered, and have been accepted for purchase by Allison and settled today.  The aggregate principal amount of notes that has been tendered and not validly withdrawn was $468,080,740, approximately 93% of the aggregate principal amount outstanding.

Information related to the notes and the aggregate results of the tender offer is set forth in the table below.

The tender offer was made upon the terms and conditions included in the Offer to Purchase, dated April 15, 2011, and the related Letter of Transmittal.  The tender offer expired at 12:00 midnight, New York City time, on May 12, 2011.

The previously announced expiration date of 12:00 midnight, New York City time, on May 12, 2011, has passed.  Accordingly, holders may no longer tender their notes.

Allison has retained Citigroup Global Markets Inc., Barclays Capital, Deutsche Bank Securities and UBS Securities LLC to serve as dealer managers for the tender offer. Allison has retained Global Bondholder Services Corporation to serve as the depositary and as the information agent for the tender offer. Requests for documents may be directed to Global Bondholder Services Corporation by phone at (866) 389-1500 or (212) 430-3774.  Questions regarding the tender offer may be directed to Citigroup Global Markets Inc. at (800) 558-3745 or collect at (212) 723-6106, to Barclays Capital at (800) 438-3242 or collect at (212) 528-7581, to Deutsche Bank Securities Inc. at (855) 287-1922 or collect at (212) 250-7527 or to UBS Securities LLC at (888) 719-4210 or collect at (203) 719-4210.

This press release is for information purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the notes or any other securities. The tender offer was made only by and pursuant to the terms of the Offer to Purchase and the related Letter of Transmittal and the information in this press release is qualified by reference to the Offer to Purchase and the related Letter of Transmittal. The tender offer was not made to holders of notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.  None of Allison, the dealer managers or the depositary and information agent made any recommendations as to whether holders should tender their notes pursuant to the tender offer.

Allison's principal executive offices are located at 4700 West 10th Street, Indianapolis, Indiana 46222 and its telephone number is (317) 242-5000.  Allison's internet address is www.allisontransmission.com.

SOURCE Allison Transmission, Inc.

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