Triad accepts tenders for $89.1 million of 11 1/8% notes

By Jennifer Chiou

New York, Dec. 17 - Triad Financial Corp. accepted tenders from holders of $89.08 million of notes in its offer for up to $90 million of 11 1/8% senior notes due 2013, according to an 8-K filing with the Securities and Exchange Commission.

All but holders of $300,000 of notes had tendered by the Dec. 1 early tender date and received the offer of $0.80 on the dollar as well as a $50 premium.

After the early deadline, bondholders tendered their notes at $0.75 on the dollar.

Jefferies & Co., Inc. was the dealer manager for the cash tender, which expired at midnight ET on Dec. 15.

The company added that it paid $72.73 million to the depositary for the accepted notes.

Triad is a vehicle loan servicing company based in North Richland Hills, Texas.

© 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.