Evergreen International further extends tender offer for 12% notes

By Jennifer Chiou

New York, Oct. 6 - Evergreen International Aviation, Inc. once more extended its tender offer and consent solicitation for its $125 million of outstanding 12% senior second secured notes due 2010, this time to 5 p.m. ET on Oct. 16 from Oct. 6.

The offer, originally set to expire Aug. 21, had already been extended to Sept. 5 and Sept. 25.

Holders of 97.94% of the notes had submitted tenders and consents by Sept. 25, 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.

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