China's Zoomlion gets needed consents to amend 6 7/8% senior notes

By Marisa Wong

Madison, Wis., Dec. 14 - Zoomlion HK SPV Co., Ltd. said it received the consents required to amend the indenture relating to its 6 7/8% senior notes due 2017.

As previously announced, Zoomlion proposed amendments that would allow the company to incur debt in addition to the existing notes.

The consent solicitation began on Dec. 3 and expired at 11 p.m. ET on Dec. 13.

The company needed consents from holders of a majority in principal amount of the outstanding notes in order to adopt the changes. As of Nov. 30, the outstanding principal amount was $400 million.

After receiving the necessary consents, the company entered into a supplemental indenture on Dec. 14 effecting the changes.

As noted, the company will pay $2.00 in cash for each $1,000 of notes held by consenting holders. The consent payment will be paid right after the expiration date of the consent solicitation.

Holders had to be of record as of 5 p.m. ET on Nov. 28.

D.F. King & Co., Inc. (212 269-5550 or 800 758-5880) is the information and tabulation agent.

Zoomlion HK SPV is a Hong Kong-based subsidiary of Zoomlion Heavy Industry Science and Technology Co., Ltd., which manufactures construction machinery and sanitation equipment and is based in Changsha, China.

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