Libbey Receives Requisite Consents In Tender Offer

Libbey Inc. (NYSE Amex: LBY) announced 14 May 2012 that its wholly-owned subsidiary Libbey Glass Inc. (“Libbey Glass”), in connection with its previously announced cash tender offer (the “Tender Offer”) to purchase up to $320.0 million (the “Tender Cap”) of its outstanding $360.0 million aggregate principal amount of 10% Senior Secured Notes due 2015 and consent solicitation had received, as of 5:00 p.m. New York City time, on May 10, 2012, tenders and consents from holders of $269.1 million in aggregate principal amount, representing 74.8% of the total outstanding principal amount of the Notes.

Libbey Inc. (NYSE Amex: LBY) announced 14 May 2012 that its wholly-owned subsidiary Libbey Glass Inc. (“Libbey Glass”), in connection with its previously announced cash tender offer (the “Tender Offer”) to purchase up to $320.0 million (the “Tender Cap”) of its outstanding $360.0 million aggregate principal amount of 10% Senior Secured Notes due 2015 and consent solicitation had received, as of 5:00 p.m. New York City time, on May 10, 2012, tenders and consents from holders of $269.1 million in aggregate principal amount, representing 74.8% of the total outstanding principal amount of the Notes.

As a result of obtaining the requisite consents, Libbey Glass executed and delivered a supplemental indenture to the indenture governing the Notes containing the proposed amendments to the Indenture, including a release of collateral. The supplemental indenture provides that the amendments to the Indenture will only become operative when validly tendered Notes are purchased, subject to proration and the Tender Cap, on the early settlement date pursuant to the Tender Offer.

Libbey Glass’s obligation to accept for purchase and pay the consideration for validly tendered Notes is subject to and conditioned upon the successful consummation of a previously announced new debt financing on terms and conditions satisfactory to Libbey Glass, amendments to the existing amended and restated credit agreement, dated February 8, 2010 and other customary conditions as set forth in the Offer to Purchase and Consent Solicitation Statement.  Libbey Glass reserves the right to waive any and all conditions to the Offer.

The principal purpose of the Offer is to acquire Notes up to the Tender Cap and to eliminate substantially all of the restrictive covenants, modify certain of the events of default and other provisions in the Indenture and release all of the collateral securing the obligations under the Notes.

Libbey Glass engaged Citigroup Global Markets Inc. and Barclays Capital Inc. to act as Dealer Managers and Solicitation Agents for the Offer and Global Bondholder Services Corporation to act as Information and Tender Agent for the Offer.