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UNITED STATES
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
DECEMBER 14, 1998
MAIL-WELL, INC.
(Exact Name of Registrant as Specified in its Charter)
COLORADO
(State or Other Jurisdiction of Incorporation)
1-12551 84-1250533
(Commission File Number) (IRS Employer Identification Number)
23 INVERNESS WAY EAST, ENGLEWOOD, CO 80112
(Address of principal executive offices) (Zip Code)
303-790-8023
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
On December 14, 1998 the Company announced the following:
MAIL-WELL ISSUES $300 MILLION OF NOTES TO
SUPPORT CONTINUED GROWTH
ENGLEWOOD, CO -- Mail-Well, Inc. (NYSE: MWL) increased its previously announced
Senior Subordinated Note offering by 50% to $300 million to satisfy investor
demand. The 10-year notes issued by a wholly owned subsidiary will carry an
annual interest rate of 8-3/4%. Proceeds will be used to repay bank debt and to
redeem the company's $85 million 10-1/2% Senior Subordinated Notes. Redemption
of the 10-1/2% notes will result in an estimated extraordinary after-tax charge
in the fourth quarter of $3.7 million or $0.07 per diluted share.
"This was an opportunity to add favorably priced fixed-rate debt to our capital
structure as the bond market became attractive in recent weeks," said Gerald F.
Mahoney, Chairman and Chief Executive Officer. "The proceeds from the notes will
allow us to continue our successful acquisition program."
Mail-Well is a leading consolidator in the highly fragmented printing industry,
specializing in fast-growing, multibillion dollar market segments: customized
envelopes, high impact printing, commercial printing, glue-applied consumer
products labels and business communications documents. Mail-Well has more than
11,000 employees and more than 90 printing plants and numerous sales offices
throughout North America. Reporting 1997 sales of $900 million, Mail-Well
currently has a run rate of $1.7 billion in revenues.
This press release may make forward-looking statements. It should be understood
that all such statements are subject to various uncertainties and risks that
could affect their outcome. Factors which could cause or contribute to such
differences include, but are not limited to, product demand and sales, interest
rates, ability to obtain assumed productivity savings and availability of
acquisition opportunities. This press release does not constitute an offer to
sell or solicitation of an offer to buy Mail-Well's securities.
SIGNATURES
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
Mail-Well, Inc.
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(Registrant)
By: /s/ Paul V. Reilly
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Paul V. Reilly, President and
Chief Operating Officer
Date: December 14, 1998
