Advanced Lighting offers notes, preferreds in exchange for 10˝% notes

By Angela McDaniels

Tacoma, Wash., Jan. 30 – Advanced Lighting Technologies, Inc. began an exchange offer for its 10˝% senior secured notes due 2019, according to a company news release.

Holders may exchange the existing notes for an equal principal amount of new 12˝% senior secured PIK notes due 2019 and shares of the company’s series C preferred stock.

The company said the terms of the exchange notes are substantially identical to those of the existing notes, except that the yield is higher and specified payments of interest on the exchange notes will be paid in kind.

The exchange offer will expire at 5 p.m. ET on Feb. 28.

The exchange agent is U.S. Bank NA (cts.specfinance@usbank.com or 800 934-6802).

Then manufacturer of lighting materials is based in Glenwillow, Ohio.

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