Philippines' Globe Telecom starts consent solicitation for 9¾% notes

New York, July 6 - Globe Telecom said it has begun a consent solicitation for its $200 million of 9¾% senior notes due 2012.

The Manila, Philippines, telecommunications company is seeking to amend the note indenture to change covenants and other terms, including covenants related to the provision of financial statements and reports, limitations on restricted payments and designation of restricted and unrestricted subsidiaries.

Holders who deliver consents by 5 p.m. ET on July 19 will receive a consent fee of $2.50 per $1,000 principal amount once the amendments become effective, which will be no more than six months after the solicitation ends.

The solicitation requires the consent of holders of at least a majority of the notes.

UBS Ltd., UBS AG, UBS Securities LLC and their affiliates (+44 207 568 3118, +852 2971 8040, 203 719-4210 or 888 722-9555 x4210) are solicitation agents and Georgeson Shareholder Communications Inc. (+61 2 9240 7000, 212 440-9800, 866 295-8149 or +44 870 703 6357) is the information and tabulation agent.

© 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.