Doskocil completes restructuring, notes exchanged for equity

New York, Jan. 15 - Doskocil Manufacturing Co., Inc. said it completed a financial restructuring in which bondholders exchanged their securities for a minority equity stake.

Under terms of the transaction, which resulted in Doskocil going private, the company's 10 1/8% notes due 2007 were exchanged for a minority ownership interest. Holders unanimously backed the plan, according to Doskocil. The majority owner, Westar Capital, made an additional investment.

The Arlington, Texas pet and sporting goods company also said that it revised its senior credit facility with its existing 11-member bank group led by Bank of America (Dallas).

The restructuring, which reduced Doskocil's debt to $58 million from $176 million, closed on Dec. 21, the company said.

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