Central European gets consents for waiver under 9 1/8%, 8 7/8% notes

By Marisa Wong

Madison, Wis., Aug. 10 - Central European Distribution Corp. completed its solicitation of consents from holders of the $380 million of 9 1/8% senior secured notes due 2016 and €430 million principal amount of 8 7/8% senior secured notes due 2016 issued by CEDC Finance Corp. International, Inc. to obtain a waiver relating to the reporting covenants for the notes.

According to a press release, holders representing a majority in principal amount of the outstanding notes delivered their consents by 5 p.m. ET on Aug. 10, the expiration of the solicitation, thereby effecting the waiver.

The consent solicitation began on Aug. 2.

As previously reported, the company anticipated that it would not be able to timely file its quarterly 10-Q report with the Securities and Exchange Commission for the financial quarter ended June 30. So the company sought a waiver up to and including Nov. 12 of any and all defaults and events of default that may occur or may have occurred and the related consequences of those defaults.

Houlihan Lokey (212 497-7864 or liability_mgmt@hl.com) and Knight (44 207 997-7742 or liabilitymanagement@knight.com) were the solicitation agents. D.F. King & Co., Inc. (212 269-5550, 800 549-6746, 44 207 920-9700 or cedc@dfking.com) is the information and tabulation agent.

Warsaw-based Central European Distribution is a producer of alcoholic beverages.

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