Advanstar to tender for 15%, 12% and 10 ¾% notes as part of merger

By Laura Lutz

Des Moines, March 29 - Advanstar Inc. and Advanstar Communications Inc. plan to launch a tender offer and consent solicitation for all of their outstanding 15% senior discount notes, 12% senior subordinated notes and 10¾% senior priority senior secured notes.

The offer will be conducted in connection with the acquisition of Advanstar Holdings Corp. by an investor group led by Veronis Suhler Stevenson.

The tender offers are expected to close alongside the merger, but their completion is not a condition of it.

Upon closing of the merger, Advanstar's senior credit facility will be refinanced and its outstanding warrants will be converted into the right to receive cash based on the shares underlying the warrants.

Advanstar is a marketing company based in New York.

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