SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 6, 1999
LifeStyle Furnishings International Ltd.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 333-11905 56-1977928
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
4000 Lifestyle Court
High Point, North Carolina 27265
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(Address of Principal Executive Offices)(Zip Code)
Registrant's telephone number, including area code (336)-878-7000
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N/A
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
LifeStyle Furnishings International Ltd. issued a press release April 6, 1999
announcing the price it will pay for its outstanding 10 7/8% Senior Subordinated
Notes due 2006. Press release dated April 6, 1999 is attached as Exhibit 1.
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<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
LifeStyle Furnishings International Ltd.
By: /s/ Douglas C. Barnard
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Name: Douglas C. Barnard
Title: Vice President, General Counsel
and Secretary
Date: April 7, 1999
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EXHIBIT 1
FOR IMMEDIATE RELEASE CONTACT: Ronald J. Hoffman
LifeStyle Furnishings International
Announces Pricing of its Debt Tender Offer
and Consent Solicitation
High Point, North Carolina; April 6, 1999 - LifeStyle Furnishings International
Ltd. ("LFI") announced today that the price it will pay for its outstanding
10 7/8% Senior Subordinated Notes due 2006 (the "Notes") tendered pursuant to
its pending tender offer will be $1,145.22 per $1,000.00 principal amount of
Notes. The terms of the amended offer provide that $25.00 per $1,000.00
principal amount would constitute a consent payment that would be paid only for
Notes that were tendered at or prior to 5 p.m., New York City time, on Thursday,
April 8, 1999 (the "Consent Date"), which is also the current expiration date
for the offer. As of this time, all $200.0 million of the outstanding principal
amount of the Notes has been tendered.
Pursuant to the terms of the amended offer, two-thirds of the total price was
determined by reference to a fixed spread of 50 basis points over the yield to
maturity of the 6 5/8% U. S. Treasury Notes due July 31, 2001, which was 4.98%.
The remaining one-third is based upon a price of $1,108.75 per $1,000.00
principal amount of Notes. In addition, tendering holders will receive accrued
interest up to but excluding the settlement date.
The amended tender offer is scheduled to expire at 5:00 p.m., New York City
time, on April 8, 1999, and settlement is scheduled to occur on April 9, 1999.
Merrill Lynch is acting as the Dealer Manager for the Offer. The information
agent is D.F. King, and the Depositary is IBJ Whitehall Bank and Trust Company.
Additional information concerning the terms of the amended tender offer and
consent solicitation may be obtained from the Merrill Lynch Liability Management
Group at (212) 449-4914, or from D.F. King at (800) 628-8532.
LifeStyle Furnishings International Ltd. is the largest manufacturer and
marketer of home furnishings products in the U.S., with 1998 sales of
approximately $2.0 billion. LifeStyle leadership brands include Beacon Hill(R),
BenchCraft(R), Berkline(R), Drexel Heritage(R), Henredon(R), LaBarge(R),
Lexington(R), Maitland-Smith(TM), Robert Allen(TM)/Ametex(TM), Sunbury(TM) and
Universal(R).
