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Prospect News home > News index > List of issuers T > Headlines for Tenders 2010 > News item |
Brookstone mulls changes to offer for 12% second-lien notes after negotiations with holders
By Jennifer Chiou
New York, June 29 - Brookstone, Inc. wholly owned subsidiary Brookstone Co., Inc. announced that it has spoken with several of the larger holders of its 12% second-lien secured notes due 2012 about possible changes to the offer to purchase for cash or exchange the notes.
Specifically, the company and holders were discussing an increase of the payout in the offer to $820 from $770 per $1,000 principal amount of notes.
Brookstone has yet to change the offer but is considering modifications, according to a news release.
As already reported, the Merrimack, N.H., specialty retailer is also soliciting consents to amend the notes. Holders who tendered prior to May 19 will still receive the $800 per $1,000 principal amount total consideration.
The offer will end at 5 p.m. ET on July 2, previously extended from June 18. It was originally scheduled to expire on June 4.
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