Leucadia National collects needed consents for 8 1/8% notes due 2015

By Jennifer Chiou

New York, March 8 - Leucadia National Corp. announced the receipt of consents from holders of $415,800,660, or 90.66%, of its 8 1/8% senior notes due 2015, enough to amend the note indenture.

The solicitation ended at 5 p.m. ET on March 7.

As announced, the company was looking to permit its material subsidiaries to incur additional funded debt in an amount up to $1.25 billion.

The proposed amendment is in connection with the previously announced proposed merger between Leucadia and Jefferies Group, Inc. Under the agreement, Jefferies will become a wholly owned subsidiary of Leucadia and will be a material subsidiary under the indenture.

The solicitation is conditioned on the completion of the merger.

Leucadia said it will pay a consent fee of $5.00 per $1,000 principal amount of notes. It will also pay the soliciting dealer a fee of $1.50 per $1,000 principal amount of notes, provided that this fee will only be paid for consenting holders with $1 million or less notes.

The solicitation agent was Jefferies & Co., Inc. (888 708-5831 or 203 708-5831). The information agent was i-Deal LLC (888 593-9546 or 212 849-3880).

Leucadia is based in New York and engages in manufacturing, telecommunications, property management and services, gaming entertainment, real estate activities, medical product development and winery operations.

© 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.