Focus DIY (Finance) obtains waiver of June 4 interest payment on 9 3/8% mezzanine notes

By Caroline Salls

Pittsburgh, June 1 - Focus DIY (Finance) plc obtained consents from the required holders of its 9 3/8% mezzanine notes due 2015 for a waiver of its obligation to pay the June 4 interest payment due on the notes, according to a news release.

Under the waiver, the company has until July 3 to make the interest payment.

In addition, Focus said negotiations on a proposed sale of the Focus Group are progressing.

Focus is a do-it-yourself and gardening retailer based in Crewe, England.

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