American Rock Salt begins consent solicitation for 9½% notes

By Angela McDaniels

Seattle, June 13 - American Rock Salt Co. LLC said it began a solicitation of consents to amend the reporting covenant in the indenture for its $100 million of 9½% senior secured notes due 2014.

The proposed amendment would delete the requirement that the company file reports with the Securities and Exchange Commission and instead require it to provide financial information to noteholders and the trustee via the internet, according to a company news release.

The consent solicitation will expire at 5 p.m. ET on June 27.

American Rock Salt is offering a consent fee of $2.50 per $1,000 principal amount of notes.

The company needs consents from holders of at least a majority of the notes.

Morgan Stanley & Co. Inc. (800 624-1808) is the solicitation agent, and D.F. King & Co., Inc. (800 290-6426) is the information agent.

American Rock Salt is a Retsof, N.Y.-based producer of highway deicing rock salt.

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