Esterline gets needed consents for 7¾% notes

By Susanna Moon

Chicago, June 28 - Esterline Technologies Corp. said it received consents from holders of more than 96% of its outstanding 7¾% notes due 2013 as of 5 p.m. ET June 27.

The consents received exceeded the majority needed to amend the indenture and permit Esterline's foreign subsidiaries to incur debt in order to reallocate its existing senior secured bank debt.

On June 20, Esterline announced the start of the consent solicitation for the 7¾% notes issued June 11, 2003.

The company said the amendment would not increase the total amount of debt that Esterline is permitted to incur under the indenture and would conform the provision to the corresponding one in the covenant of Esterline's 6 5/8% senior notes due 2017.

The company said it would pay a consent fee of $3.75 for each $1,000 principal amount of notes.

Global Bondholder Services Corp. is the information agent (call collect 212 430-3774 or 866 389-1500). Merrill Lynch & Co. is the solicitation agent (888 654-8637 or call collect 212 449-4914).

Esterline is a Bellevue, Wash.-based engineering company for the defense and aerospace industry.

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