Alcatel, Lucent again extend consent solicitation for 2.75% convertible debentures

By Laura Lutz

Washington, Dec. 4 - Alcatel and Lucent Technologies further delayed the deadline in their joint solicitation of consents from holders of Lucent's 2.75% series A convertible senior debentures due 2023 and 2.75% series B convertible senior debentures due 2025, this time to 5 p.m. ET on Dec. 5.

The solicitation, originally set to expire on Nov. 29, had already been extended to Dec. 1. It began on Nov. 14.

The companies are soliciting consents to amend the indentures in return for a full and unconditional guaranty from Alcatel, which is unsecured and subordinated to its senior debt.

The companies said they are seeking consents from a majority of debenture holders, adding that the solicitation is conditioned on the completion of the merger between Alcatel and Lucent.

As announced on Nov. 27, the companies will pay a one-time consent fee for both series of securities equal to $7.50 times the fraction made up of the principal amount outstanding divided by the amount of accepted notes for each $1,000 principal amount.

D.F. King & Co. is the information agent (888 887-0082 or call collect 212 269-5550). Bear, Stearns & Co. Inc. is the solicitation agent (877 696-BEAR).

Alcatel is a Paris-based telecommunications equipment company.

Murray Hill, N.J.-based Lucent sells software and services for communications networks.

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