Securus Technologies gets consents needed to amend 11% notes

By Angela McDaniels

Seattle, June 27 - Securus Technologies, Inc. amended the indenture governing its 11% second-priority senior secured notes due 2011 to permit the company's planned acquisition of Syscon Holdings Ltd. and related financings, according to a company news release.

The company began a consent solicitation for the notes on June 22 and executed the supplemental indenture on Wednesday. The solicitation ends at 5 p.m. ET on Friday.

Holders who submit consents by the deadline will be eligible to receive a consent fee.

The waivers and amendments will also allow Securus to use any excess cash flow to pay accrued interest under the notes to the extent that holders have not chosen to have their notes redeemed with that excess cash flow.

The amendments required consents from holders of a majority of the notes.

UBS Investment Bank (888 722-9555 ext. 4210 or 203 719-4210) is the solicitation agent. Global Bondholders Services Corp. (866 294-2200) is the information agent.

Dallas-based Securus supplies detainee communications and information management services.

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