Ascent Media extends early tender deadline for Meridian floaters

By Marisa Wong

Madison, Wis., May 26 - Ascent Media Corp. announced that it extended the early tender deadline and withdrawal deadline for its previously announced cash tender offer for any and all of the $300 million of outstanding floating-rate notes due 2027 issued by Meridian Funding Company, LLC.

The early tender deadline and withdrawal deadline has been extended to 5 p.m. ET on June 10 from May 26.

The expiration date of the offer remains unchanged at 5 p.m. ET on June 10.

As of 5 p.m. ET on May 26, $100 million of the notes had been tendered.

For each $1,000 principal amount of notes, the company will pay a total consideration of $850, which includes a $30.00 early tender premium for those who tender by the early tender deadline.

Participating holders will also receive accrued interest.

As previously reported, the offer is being made in connection with the refinancing of the existing securitized debt of Monitronics Funding LP, which is a subsidiary of Ascent's direct wholly owned operating subsidiary, Monitronics International, Inc.

Citigroup Global Markets Inc. (800 558-3745) is the dealer manager, and Global Bondholder Services Corp. (866 857-2200 or 212 430-3774) is the depositary and information agent.

Based in Englewood, Colo., Ascent Media provides creative and network services to the media and entertainment industries in the United States, the United Kingdom and Singapore.

© 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.