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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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): August 31, 1999
AMERICAN BANKNOTE CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE
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(State or Other Jurisdiction of Incorporation)
1-3410 13-0460520
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(Commission File Number) (I.R.S. Employer Identification No.)
410 PARK AVENUE, NEW YORK, N.Y. 10022-4407
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(Address of Principal Executive Office) (Zip Code)
(212) 593-5700
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
The information set forth in the press release issued by American
Banknote Corporation, attached hereto as Exhibit 99.1, is incorporated
herein by reference.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
(c) Exhibits
99.1 Press release of American Banknote Corporation dated
August 31, 1999.
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.
AMERICAN BANKNOTE CORPORATION
By: s/Patrick D. Reddy
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Patrick D. Reddy,
Vice President
Date: August 31, 1999
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EXHIBIT INDEX
Item No.
99.1 Press release of American Banknote Corporation dated August 31, 1999.
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Exhibit 99.1
American Banknote Corporation
410 Park Avenue
New York, NY 10022-4407
Contact: Patrick J. Gentile
Senior Vice President - Finance
(212) 593-5700 FOR IMMEDIATE RELEASE
AMERICAN BANKNOTE CORPORATION
ANNOUNCES NONPAYMENT OF INTEREST ON 11 5/8% SENIOR NOTES
AND CONTINUING RESTRUCTURING DISCUSSIONS
NEW YORK, August 31, 1999 - American Banknote Corporation announced today
that the applicable 30-day grace period for payment of interest on its 11 5/8%
Senior Notes due August 1, 2002 has expired and that the Company will not make
the interest payment on the notes.
The Company's advisor, the Blackstone Group, continues to hold discussions
with an informal committee of the 11 1/4% Senior Subordinated Note holders,
who hold more than 85% of those notes, on the terms of a consensual
restructuring converting all or a substantial portion of that debt to equity.
However, there can be no assurance that the Company will be able to reach any
agreement with the debt holders.
American Banknote Corporation is a leading global full-service provider of
secure transaction solutions in carefully selected markets along three major
product groups: Transaction Cards & Systems, Printing Services & Document
Management, and Security Printing Solutions. A combined strategy of operating
along product lines and constant expansion of transaction activities worldwide
reflects the rapidly changing field of electronic commerce.
Statements about future results made in this release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform act of 1995. These statements are based on current
expectations and the current economic environment. The Company cautions that
these statements are not guarantees of future performance. They involve a
number of risks and uncertainties that are difficult to predict. Actual
results could differ materially from those expressed or implied in the
forward-looking statements. Important assumptions and other important factors
that could cause actual results to differ materially from those in the
forward-looking statements are specified in the Company's Annual Report on
Form 10-K and quarterly reports on Form 10-Q on file with the Securities and
Exchange Commission.
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