Gundle/SLT gets consents from nearly all investors of its 11% notes

By Susanna Moon

Chicago, July 23 - Gundle/SLT Environmental, Inc. said it completed its consent solicitation and received consents from holders of nearly all its 11% senior notes due 2012.

The company and the trustee executed and delivered the supplemental indenture, according to a press release.

The company said on July 13 that it sought to amend the indenture to scrap the note's requirement to file reports with the Securities and Exchange Commission and instead report the financial and operating information to the trustee and make it available to noteholders.

The company said at the time that it would pay a consent fee of $10 per $1,000 principal amount of the notes if the required consents were received by July 3.

Global Bondholder Services Corp. (866 873-6300 or 212 430-3774) was the information agent and tabulation agent for the consent solicitation. UBS Investment Bank (888 722-9555 x3374210 or collect 203 719-4210) was the solicitation agent.

Gundle/SLT Environmental Inc. priced $150 million of the eight-year senior notes on May 13, 2004.

The issuer is a Houston manufacturer and marketer of geosynthetic lining solutions, products and services.

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