Philippines' Alliance Global gets consents to amend 6½% notes due 2017

By Marisa Wong

Madison, Wis., March 25 - Alliance Global Group, Inc.'s wholly owned subsidiary, Alliance Global Group Cayman Islands, Inc., announced that it passed an extraordinary resolution to amend its $500 million 6½% guaranteed notes due 2017 at a noteholders meeting held on March 22.

The company began a consent solicitation on Feb. 26 to modify some of the financial covenants and related definitions in the terms and conditions of the 6½% notes in order to gain greater flexibility for carrying out business strategies.

The company said it expects to execute a supplemental trust deed effecting the changes on March 27 and will pay consent fees to qualifying noteholders.

UBS AG, Hong Kong Branch (UBS Ltd. at +44 20 7565 0525, attn.: liability management, OL-liability-management@ubs.com or UBS AG, Hong Kong Branch at +852 2971 7238, attn.: liability management, OL-LM-Asia@ubs.com) is the solicitation agent, and DF King Worldwide (+44 207 920 9700 or 212 269-5550, attn.: Damian Watkin and Katerina Papamichael, AllianceGlobal@King-Worldwide.com) is the information and tabulation agent.

Alliance Global Group is a Quezon City, Philippines-based food and beverage conglomerate.

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