[December 31, 2020]
Vector Announces Notice of Conditional Redemption for Senior Notes
Vector Group Ltd. (NYSE: VGR) ( Vector or the Company ) announced today that it has delivered a conditional notice of redemption (the Notice ) to the trustee of the outstanding 6.125% Senior Secured Notes due 2025 (the Notes ) issued by the Company. The Notice calls for the redemption of all of the outstanding $850 million aggregate principal amount of the Notes on February 1, 2021 (the Redemption Date ) and is conditioned on closing of a refinancing transaction in a principal amount of at least $850,000,000 through one or more offerings of debt securities (the Condition ), which condition the Company may waive at its discretion. The redemption price for the Notes is 101.531% of the principal amount redeemed, plus interest accrued and unpaid to the redemption date, in accordance with the provisions of the indenture governing the Notes.