Crescent Resources gets consents needed to amend 10¼% notes due 2017

By Angela McDaniels

Tacoma, Wash., Feb. 5 - Crescent Resources, LLC and Crescent Ventures, Inc. had received consents from the holders of $272,158,000 principal amount, or 78%, of their 10¼% senior secured notes due 2017 as of Feb. 4, according to a company news release.

The consents are enough to amend the indenture governing the notes. A first supplemental indenture adopting the proposed amendments has been executed.

The consent solicitation began Jan. 29 and was scheduled to expire at 5 p.m. ET on Feb. 5.

Holders who consent will receive a consent fee of $2.50 per $1,000 principal amount of notes.

The solicitation agent is Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2476). The information and tabulation agent is Global Bondholder Services Corp. (866 857-2200).

Crescent Resources is a real estate company based in Charlotte, N.C.

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