Interstate Bakeries Corporation (fka IBCIQ)

[Stock]

Interstate Bakeries emerges from bankruptcy

Business Courier of Cincinnati

Wednesday, February 4, 2009

Interstate Bakeries Corp. on Tuesday emerged from four-and-a-half years of Chapter 11 bankruptcy.

This was just days before the Feb. 9 deadline when Kansas City-based IBC’s debtor-in-possession financing was to mature and its exit financing commitments were to expire.

The maker of Twinkies and Wonder Bread said in a release after the market closed on Tuesday that it had wrapped up financing to emerge from bankruptcy as a stand-alone company.

Interstate’s Butternut Breads division operates a bakery plant in Queensgate, as well as 16 Butternut and Wonder Bread/Hostess outlet stores in the Tri-State.

IBC had financing commitments from IBC Investors I LLC, an affiliate of private equity firm Ripplewood Holdings LLC, which was to provide $130 million of capital — $44.2 million for 4.42 million shares and $85.8 million in new fourth-lien convertible secured notes. Other commitments were for a $125 million revolving loan with General Electric Capital Corp. and GE Capital Markets Inc. and a $344 million term loan-secured credit facility with Silver Point Finance LLC and Monarch Master Funding Ltd.

“Today marks a new beginning for Interstate Bakeries,” CEO Craig Jung said in the release. “We are now a stronger and more competitive company. With this period behind us, we can now unleash and empower 22,000 IBC employees to better serve our consumers and customers, revitalize our core brands and launch product innovation that will profitably grow our business.”

All of IBC’s 423 union locals ratified revised labor agreements that allowed IBC the flexibility to adjust to the changing market, IBC said in the release. In addition, all of IBC’s secured lenders voted in favor of the reorganization plan, which a Kansas City bankruptcy court approved on Dec. 5 .

“I want to thank IBC’s employees for the sacrifices they have made and our union leaders for their commitment to our company and saving jobs,” Jung said in the release. “Their actions made possible the financing required to execute a business plan that will build competitive advantage and secure our company’s future.”

Although employees kept their jobs, shareholders wound up empty-handed as part of the emergence plan. In Tuesday filings with the Securities and Exchange Commission, IBC canceled all its publicly traded shares.

Ripplewood officials said they were glad to see the deal close and hope to use IBC’s main bread and snack cake brands to position it for future success. As part of the exit financing deal, two industrial partners of Ripplewood — John Cahill and Greg Murphy — get seats on IBC’s board. Cahill is former CEO of The Pepsi Bottling Group Inc. (NYSE: PBG); Murphy is former CEO of Kraft Food Bakery Cos.

[e-mail] | 816-777-2203

===============

FORM 15-12B c48684ae15v12b.htm 15-12B 8244

http://idea.sec.gov/Archives/edgar/data/829499/000095013709000736/0000950137-09-000736-index.idea.htm

15-12B 1 c48684ae15v12b.htm FORM 15-12B

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 15
CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF
THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
Commission File Number: 1-11165
INTERSTATE BAKERIES CORPORATION
(Exact name of registrant as specified in its charter)
12 East Armour Boulevard
Kansas City, Missouri 64111
[phone]
(Address, including zip code, and telephone number, including area code,
of registrant’s principal executive offices)
Common Stock, $0.01 par value
Preferred Stock Purchase Rights
(Title of each class of securities covered by this Form)
None
(Title of all other classes of securities for which a duty to file reports
under section 13(a) or 15(d) remains)
Please place an X in the box(es) to designate the appropriate rule/provision(s) relied upon to terminate or suspend the duty to file reports:

Rule 12g-4(a)(1) þ
Rule 12g-4(a)(2) o
Rule 12h-3(b)(1)(i) þ
Rule 12h-3(b)(1)(ii) o
Rule 15d-6 o

Approximate number of holders of record as of the certification or notice date:

Common Stock, $0.01 par value per share 13
Preferred Stock Purchase Rights 0

Pursuant to the requirements of the Securities Exchange Act of 1934, Interstate Bakeries Corporation has caused this certification/notice to be signed on its behalf by the undersigned duly authorized person.

Date: February 3, 2009 INTERSTATE BAKERIES CORPORATION

By: /s/ J. Randall Vance
Name:
J. Randall Vance
Title: Senior Vice President, Chief
Financial Officer and Treasurer