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) May 7, 1998
AMF BOWLING, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-13539 13-3873268
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
8100 AMF Drive, Richmond, Virginia 23111
(Address of principal executive offices) (Zip Code)
N/A
(Former name or former address, if changed since last report)
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Item 5. Other Events
On May 7, 1998, the registrant issued a news release announcing that it
has priced a previously announced private offering of zero coupon convertible
debentures.
A copy of the news release is attached as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Exhibit Description
- ------- -----------
99.1 News Release Regarding Announcement of Pricing of Zero Coupon
Convertible Debentures
<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 hereunto duly authorized.
Date: May 8, 1998 AMF BOWLING, INC.
By: /s/ Stephen E. Hare
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Stephen E. Hare
Executive Vice President and
Chief Financial Officer
Exhibit 99.1
Contact: Stephen E. Hare
Chief Financial Officer
(804) 730-4401
News Release
May 7, 1998
AMF Bowling, Inc. Prices
$227 Million Private Offering
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Richmond, Virginia - May 7, 1998 -- AMF Bowling, Inc. (NYSE : PIN) announced
today that it has priced its previously announced zero coupon convertible
debentures for gross proceeds of approximately $227 million. The debentures,
which are being sold in a private placement to qualified institutional buyers,
will mature in 2018 and will have a yield to maturity of 7% per annum. The
debentures are being issued at an original price of $252.57 per $1,000 principal
amount at maturity and will be convertible at any time prior to maturity into
shares of AMF's common stock at a conversion rate of 8.6734 shares per $1,000
principal amount at maturity. AMF also granted the initial purchasers of the
debentures an option for 30 days to purchase up to an additional 25% of the
aggregate principal amount at maturity solely to cover over-allotments. The
closing is scheduled to occur on May 12, 1998.
The Company will contribute the net proceeds of the offering, estimated to be
$218 million (excluding any over-allotment option), as equity to its subsidiary,
AMF Bowling Worldwide, Inc., to repay a portion of its senior bank debt, thereby
enabling AMF Bowling Worldwide to incur additional indebtedness to fund its
bowling center acquisition program and to use for other corporate purposes.
The debentures have not been registered under the Securities Act of 1933 or
applicable state securities laws and may not be offered or sold in the United
States absent registration under the Securities Act and applicable state
securities laws or applicable exemptions from such registration requirements.
