Acument extends consent deadline for floaters

By Angela McDaniels

Seattle, Nov. 30 - Acument Global Technologies, Inc. (formerly TFS Acquisition Corp.) extended the consent solicitation deadline for its floating-rate senior secured notes due 2014 to 5 p.m. ET on Dec. 5 from Nov. 29, according to a company news release.

The concurrent tender offer will expire at 5 p.m. ET on Jan. 16.

The company is soliciting consents to amend the note indenture to eliminate most of the indenture's principal restrictive covenants and to amend certain other provisions including the company's obligation to offer to exchange the notes for publicly registered notes.

Noteholders will receive $1,030 per $1,000 principal amount of notes tendered before the consent deadline, including a consent payment of $30.00. Noteholders will also receive accrued interest up to but excluding the settlement date.

If the company receives tenders from a majority of noteholders by the consent deadline, $5.00 of the consent payment will be paid following the consent deadline, with the remainder to be paid on the settlement date.

Acument said it is permitted to redeem all or a portion of the notes at any time prior to Dec. 29 for a redemption price of 102% plus accrued interest.

The offer is conditioned upon the receipt of proceeds from a new issue of debt securities or a new second-lien credit facility, the receipt of tenders from a majority of noteholders and the execution of a supplemental indenture.

Citigroup Corporate and Investment Banking is the dealer manager and solicitation agent (800 558-3745 or call collect 212 723-6106), and Global Bondholder Services Corp. is the information agent (866 389-1500 or call collect 212 430-3774).

Acument is based in Troy, Mich., and provides fastening systems.

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