Key3Media defaults on credit facility; in discussions with lenders

By Sara Rosenberg

New York, Jan. 3 - Key3Media Group Inc. defaulted on its senior credit facility due to a change in control following Triax Holdings Ltd.'s purchase of common stock, according to a filing with the Securities and Exchange Commission.

Triax bought 36,700,190 shares, bringing its total ownership to approximately 53.55% of Key3Media's common stock, which represents approximately 40.74% of the company's total voting power.

Currently, the company's advisors are in discussions with lenders regarding this event of default, the filing concluded.

Key3Media is a Los Angeles information technology conference company.

© 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.