FTI Consulting, Inc. Announces Completion of Redemption of 7 3/4% Senior Notes
WEST PALM BEACH, Fla., Dec. 27, 2012
WEST PALM BEACH, Fla., Dec. 27, 2012 /PRNewswire/ --FTI Consulting, Inc.
(NYSE: FCN) (the "Company"), the global business advisory firm dedicated to
helping organizations protect and enhance their enterprise value, today
announced that it has completed the redemption of $86,688,000 aggregate
principal amount of its 7 3/4% Senior Notes due 2016 (CUSIP No. 302941 AG4)
(the "2016 Notes"), that remained outstanding after consummation of the
Company's previously announced offer to purchase ("Tender Offer") relating to
the 2016 Notes, which expired at 9:00 a.m., New York City time, on December
11, 2012 (the "Expiration Time"). The redemption price was 102.583% of the
principal amount plus accrued and unpaid interest. The Company used the
proceeds of its recently completed private offering of 6.0% Senior Notes due
2022, plus cash on hand, to fund the redemption.
As announced on November 28, 2012, the Company will recognize a pre-tax charge
against 2012 fourth-quarter earnings, reflecting the estimated loss on early
extinguishment of debt related to the Tender Offer and the subsequent
redemption of all 2016 Notes that remained outstanding following the
Expiration Time (the "Estimated Charge"). The Company has updated its
Estimated Charge to be approximately $4.5 million, which will reduce fully
diluted earnings per share by $0.07, after giving effect to the redemption of
all outstanding 2016 Notes.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping
organizations protect and enhance enterprise value in an increasingly complex
legal, regulatory and economic environment. With more than 3,800 employees
located in 24 countries, FTI Consulting professionals work closely with
clients to anticipate, illuminate and overcome complex business challenges in
areas such as investigations, litigation, mergers and acquisitions, regulatory
issues, reputation management, strategic communications and restructuring. The
Company generated $1.57 billion in revenues during fiscal year 2011. More
information can be found at www.fticonsulting.com.
SOURCE FTI Consulting, Inc.
Contact: Investors and media: Mollie Hawkes, +1-617-747-1791,
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