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Interpool extends consent deadline for 6% notes, ups payment
By Susanna Moon
Chicago, June 29 - Interpool, Inc. said it extended the consent date for its tender offer for $230 million of outstanding 6% notes due 2014 and increased the payment on offer.
The deadline was extended to 5 p.m. ET on July 3 after being extended from 5 p.m. ET June 29 earlier Friday.
The company will now pay holders $1,027.50 per $1,000 principal amount, up from $1,015.00 per $1,000 principal amount. The consent portion of the total was reduced to $0.50 per $1,000 from $20.00 per $1,000 for notes tendered before the consent date.
The tender offer ends 8 a.m. ET on July 19, unchanged.
On June 13, the company announced the start of a tender offer for its 6% notes.
The company also is soliciting consents to amend the note indenture to eliminate restrictive covenants, events of default and other provisions contained in the indenture.
The company said it will pay $1,015.00 per $1,000 principal amount of notes, which includes at $20.00 consent payment for those who tender by 5 p.m. ET on June 26.
Interpool will also pay accrued interest up to the payment date.
The tender offer ends at 8 a.m. ET on July 19.
The company requires consents from holders of a majority of the notes, sufficient financing as well as the consummation of the merger of Interpool and Chariot Acquisition Sub, Inc., an indirect wholly owned subsidiary of funds managed by affiliates of Fortress Investment Group LLC.
The tender is not a condition of the merger.
The dealer manager is Bear, Stearns & Co. Inc. (877 696-BEAR or call collect 212 272-5112). The information agent is D.F. King & Co., Inc. (call collect 212 269-5550 or 800 628-8208).
The Princeton, N.J.-based company supplies equipment and services to the transportation industry.
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