Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Headwaters Inc. > News item |
Headwaters gets enough consents to amend 11 3/8% senior notes due 2014
By Angela McDaniels
Tacoma, Wash., March 1 - Headwaters Inc. said holders had tendered and delivered consents for $328 million principal amount, or 99.9%, of its $328.3 million of outstanding 11 3/8% senior secured notes due 2014 as of 5 p.m. ET on March, the consent payment deadline.
A tender offer and consent solicitation for the notes began Feb. 15 and will expire at midnight ET on March 15.
The company is soliciting consents for proposed amendments to the indenture governing the notes that would eliminate substantially all of the restrictive covenants and some events of default.
Enough consents have been received the make the changes. The amendments will become operative after the tender offer is completed.
Holders who tender their notes are deemed to have delivered their consents to the proposed amendments. Holders may not deliver their consents without tendering their notes.
The company will pay $1,180 for each $1,000 principal amount of notes. This includes an early tender and consent payment of $30 for each note tendered by the consent payment deadline.
Holders will also receive accrued interest up to but excluding the settlement date.
The offer is contingent on new debt financing.
The dealer manager is Deutsche Bank Securities Inc. (855 287-1922). The information agent is D.F. King & Co., Inc. (800 967-4607 or 212 269-5550).
The South Jordan, Utah, company provides products and services to the energy, construction and home-improvement industries.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.