Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2005 > News item |
Lazy Days to spend $1.458 million in offer to buy back 11¾% notes
New York, April 19 - Lazy Days' R.V. Center, Inc. said it will spend $1.458 million to buy back some of its $137 million principal amount of 11¾% notes due May 2012.
The repurchase is required under the free cash flow offer provisions of the notes.
Lazy Days will buy back the notes at $1,070.00 per $1,000 principal amount. Under the terms of the indenture, the price is set at the current market price but capped at 107% of par and with a floor of 103% of par. The current price is above 107 so the maximum is being used.
Lazy Days will also pay accrued interest up to but excluding the payment date.
The offer will run through May 18.
The Bank of New York is the paying agent (call Carolle Montreuil at 212 815-5920).
Lazy Days is a Seffner, Fla., recreational vehicle retailer.
© 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.