Alliance One International, Inc. Reduces Size Of Tender Offer For Its 5 1/2% Convertible Notes Due 2014 (CUSIP No. 018772AQ6)

 Alliance One International, Inc. Reduces Size Of Tender Offer For Its 5 1/2%
               Convertible Notes Due 2014 (CUSIP No. 018772AQ6)

PR Newswire

MORRISVILLE, N.C., July 30, 2013

MORRISVILLE, N.C., July 30, 2013 /PRNewswire/ --Alliance One International,
Inc. (NYSE: AOI) ("Alliance One" or the "Company") today announced that it has
amended its previously announced cash tender offer for its 5½% Convertible
Senior Subordinated Notes due 2014 (the "Convertible Notes") to reduce the
size of the tender offer. As amended, the cash tender offer (the "Tender
Offer") is now for up to $30.0 million in aggregate principal amount of the
outstanding Convertible Notes. The Tender Offer is being made on the terms
and subject to the conditions set forth in the Company's Amended Offer to
Purchase dated July 29, 2013 (the "Offer to Purchase"). The Offer to Purchase
and the related letter of transmittal more fully set forth the terms of the
Tender Offer. Information relating to the Tender Offer is listed in the table
below.

                                                           Aggregate
                                                Principal    Principal   
                                              Amount
                                                Outstanding  Amount      Tender Offer
CUSIP    Title of              Sought      Consideration(1)
No.      Security
                                                                      
                                                             $30,000,000
018772AQ6 5½% Convertible Senior Subordinated   $115,000,000             $1,030.00
          Notes due 2014
(1)       Per $1,000 principal amount of Convertible Notes excluding accrued and unpaid
          interest, which will be paid in addition to the Tender Offer Consideration.

If Convertible Notes with an aggregate principal amount in excess of $30.0
million are validly tendered and not validly withdrawn pursuant to the Offer,
then, subject to the terms and conditions of the Tender Offer, Alliance One
will accept for payment only $30.0 million aggregate principal amount of
Convertible Notes. In that event, the proration for each holder tendering
Convertible Notes will be calculated with a proration factor of such amount so
that Alliance One only accepts for purchase an aggregate principal amount of
Convertible Notes of $30.0 million.

Alliance One also announced that it has modified the Financing Condition (as
defined in the Offer to Purchase) applicable to the Tender Offer to be the
completion, on or prior to the Expiration Time, of the issuance and sale of
$735 million in aggregate principal amount of its 9.875% Senior Secured Second
Lien Notes due 2021 (the "Second Lien Notes") on terms and conditions
satisfactory to Alliance One. The Company's offer of Second Lien Notes priced
on July 26, 2013 and is expected to close on August 1, 2013. The Company's
obligation to accept for purchase and to pay for Convertible Notes validly
tendered and not validly withdrawn pursuant to the Tender Offer is subject to
the satisfaction or waiver, in the Company's discretion, of certain other
conditions, which have not been amended and which are more fully described in
the Offer to Purchase.

Questions and Requests for Documents
The Company has retained Deutsche Bank Securities Inc. to serve as the dealer
manager for the Tender Offer. Questions regarding the Tender Offer may be
directed to Deutsche Bank Securities Inc. at (212) 250-7527 (collect) or at
(855) 287-1922. Requests for documents may be directed to DF King & Co.,
Inc., the information agent for the Tender Offer, at (212) 269-5550 (collect)
or at (800) 423-2107 (toll-free). The amended Tender Offer documents are also
available online without charge on the website of the Securities and Exchange
Commission at www.sec.gov.

This press release is for informational purposes only and is not an offer to
purchase, or a solicitation of an offer to purchase, any securities. The
Tender Offer is being made solely pursuant to the Offer to Purchase and the
related letter of transmittal, which set forth the complete terms of the
Tender Offer.

Forward Looking Statements
This press release contains forward-looking statements. Actual results may
differ materially from those reflected in the forward-looking statements.
Additional information concerning factors that could cause actual results to
differ materially from those in the forward-looking statements is contained
under the heading of "Risk Factors" listed from time to time in the Company's
filings with the Securities and Exchange Commission, including its Annual
Report on Form 10-K for the fiscal year ended March 31, 2013, filed on June
17, 2013. In addition, it is not certain whether, and the Company can provide
no assurances that, the conditions to the tender offer will be satisfied on or
prior to the Effective Time. Risks and uncertainties regarding whether these
conditions will be satisfied include the Company's ability to complete the
Debt Financing or obtain the Credit Facility Amendment, which may be affected
by market conditions beyond the Company's control, including satisfaction of
conditions applicable to the completion of the issuance and sale of the Second
Lien Notes.

About Alliance One
Alliance One International, Inc. is a leading independent leaf tobacco
merchant serving the world's cigarette manufacturers.

SOURCE Alliance One International, Inc.

Website: http://www.aointl.com
Contact: Joel L. Thomas, (919) 379-4300
 
Press spacebar to pause and continue. Press esc to stop.