i2 Technologies gets consents needed to amend 5% convertibles

By Angela McDaniels

Tacoma, Wash., Sept. 18 - i2 Technologies, Inc. said it amended its 5% senior convertible notes due 2015 so that following the company's upcoming merger with JDA Software Group, Inc., noteholders will receive cash upon conversion instead of shares.

For any make-whole premium or any amounts payable in excess of par, the cash amount paid will be based on the $14.68-per-share price to be paid in the merger.

The amendment also removed several restrictive covenants and waived the covenant limiting what debt the company can incur.

The notes were amended on Tuesday after the company received consents from a majority of the noteholders, according to an 8-K filing with the Securities and Exchange Commission.

The removal of the restrictive covenants will only become operative once the company files a certificate of merger with the State of Delaware in connection with its acquisition by JDA Software. The certificate must be filed by Feb. 11 in order for the covenants to be removed.

The companies expect the merger to close by the end of the year.

i2 Technologies is a Dallas-based supply chain company, and JDA Software is a Scottsdale, Ariz., software services provider.

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