Kaman gets consents to amend 3.25% convertible notes due 2024

Chicago, July 16 – Kaman Corp. announced the results of its consent solicitation relating to proposed amendments to the indenture governing its $200 million 3.25% convertible senior notes due 2024, according to a press release.

The company received valid consents from at least a majority to amend the notes.

The proposed amendments relate to the previously announced share purchase agreement among Kaman, LJ KIT Blocker, Inc., LJ KAI Blocker, Inc. and LJ KFP Blocker, Inc.

Under the sale agreement, through a series of transactions, LJ KIT, LJ KAI and LJ KFP will acquire from Kaman all of the issued and outstanding shares of Kaman Industrial Technologies Corp.

As a result of the solicitation, the indenture governing the notes to expressly provide that the transactions contemplated by the sale agreement do not violate the indenture has become effective and will become operative once the consent fees are paid.

Holders who submitted consents are eligible to receive a consent fee of $2.50 per $1,000 principal amount.

Consents were due by 5 p.m. ET on July 15.

J.P. Morgan Securities LLC is the solicitation agent (866 834-4666 or 212 834-3260). D.F. King & Co., Inc. (800 676-7437 or 212 269-5550 for bankers and brokers) is the information, tabulation and paying agent.

Based in Bloomfield, Conn., Kaman makes proprietary aircraft bearings and components.

© 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.