Velocity Express asks holders of 12% notes to OK new credit agreement

By Laura Lutz

Washington, Dec. 7 - Velocity Express, Inc. launched a consent solicitation for its 12% senior secured notes that were sold on July 3.

Velocity is seeking consents to amend the note indenture to allow the company to enter into a new senior secured revolving credit agreement. The company needs approval from holders of a majority of the notes.

The consent solicitation will expire at 5 p.m. ET on Dec. 15.

The company is serving as its own solicitation agent, information agent and tabulation agent because of the limited number of noteholders. Questions may be directed to Don Beach (203 349-4189).

Based in Westport, Conn., Velocity provides regional delivery service.

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