AirGate receives consents to amend 9 3/8% notes, floaters

New York, Jan. 26 - AirGate PCS, Inc. said it received the necessary consents to amend its 9 3/8% senior subordinated secured notes due 2009 and its first priority senior secured floating-rate notes due 2011.

The amendments are to allow Alamosa Holdings, Inc.'s acquisition of AirGate to go ahead without AirGate or Alamosa being required to make a repurchase offer for the notes.

By the expiration of the solicitation at 5 p.m. ET on Jan. 25, Alamosa said it had received consents from holders of 97% of the 9 3/8% notes and 92% of the floaters.

Holders who consented will receive a payment of 0.25% of the principal amount.

The solicitation, announced Jan. 11, was subject to the receipt of consents from holders of a majority of the principal amount of the outstanding notes of each series and completion of the merger by June 30.

MacKenzie Partners, Inc. is the information agent (800 322-2885 or call collect 212 929-5500). UBS Securities LLC is the solicitation agent (contact Liability Management Group collect at 203 719-4210 or 888 722-9555 x4210).

AirGate is an Atlanta-based wireless phone company.

© 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.