Black Knight gets needed consents to amend 5.75% senior notes due 2023

By Susanna Moon

Chicago, Feb. 7 - Black Knight InfoServ, LLC, a wholly owned subsidiary of Black Knight Financial Services, and Black Knight Lending Solutions, Inc. received the needed consents to amend the 5.75% senior notes due 2023.

The consent solicitation expired at 5 p.m. ET on Feb. 6. The solicitation began on Jan. 28.

Holders had delivered consents for more than half of the outstanding notes, according to a company press release. These consents may not be revoked.

The companies sought consents to modify the reporting requirement in the notes indenture to substitute reporting of Fidelity National Financial, Inc. for that of the issuers, according to a previous press release on Jan. 28.

Under the supplemental indenture dated Jan. 2, Fidelity National Financial, the indirect parent of the issuers, provided an unconditional, irrevocable guarantee of the notes, and Black Knight Lending Solutions, Inc. was added as a co-issuer.

In addition, on Jan. 2, the notes were rated as investment grade, the company noted. As a result, a covenant suspension event occurred, and most of the restrictive covenants in the notes indenture were suspended.

The consent payment will be $1.25 per $1,000 principal amount of notes.

Jefferies LLC (877 877-0696 or 212 284-2435 collect) is the solicitation agent. Computershare Trust Co., NA is the tabulation agent and paying agent, and Georgeson, Inc. (attn: corporate actions; 866 729-6811 or fax 201 222-4151) is the information agent.

Black Knight, formerly Lender Processing Services, Inc., is a Jacksonville, Fla.-based provider of integrated technology, services and loan performance data and analytics to the mortgage, consumer lending, capital markets and real estate industries.

© 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.