Evergreen further extends tender offer for 12% notes

By Laura Lutz

Des Moines, Aug. 21 - Evergreen International Aviation, Inc. again extended its previously announced tender offer and consent solicitation for its $125 million of outstanding 12% senior second secured notes due 2010, moving the deadline to 5 p.m. ET on Sept 25 from Sept. 5.

The offer was originally set to expire Aug. 21.

Holders of 97.94% of the notes had submitted tenders and consents by Sept. 5, unchanged from Aug. 9.

As previously reported, the company said it will pay $1,080 plus accrued interest up to the payment date for each $1,000 principal amount of tendered notes.

The payout includes a $30.00 consent payment for holders who tendered before the consent deadline.

By the Aug. 8 consent deadline, Evergreen received the necessary consents to eliminate most of the restrictive covenants and modify some other provisions in the note indenture.

The tender offer and consent solicitation were announced July 20.

Credit Suisse Securities (USA) LLC is the dealer manager and solicitation agent (call collect 212 325-7596 or 800 820-1653). D.F. King & Co., Inc. is the information agent (800 290-6426 or call collect 212 269-5550).

Evergreen is an aviation services company based in McMinnville, Ore.

© 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.