Windsor Petroleum Transport gets needed consents to amend 7.84% notes

By Susanna Moon

Chicago, April 25 - Windsor Petroleum Transport Corp. said investors had tendered $133.1 million principal amount, or about 55.67%, of its 7.84% term secured notes due 2021.

The consent solicitation ended at 5 p.m. ET on April 24.

Windsor received the needed consents from holders of a majority of the outstanding notes and expects to enter into a supplemental indenture on April 29, according to a company press release.

The company sought noteholder consent to amend the note terms to add a provision permitting payment of fees to advisers of a bondholder group that has approached Windsor with a restructuring proposal and a provision streamlining the operations of two vessels that serve as collateral for the notes and that currently operate in the spot market, the company said.

D.F. King & Co., Inc. was the information and tabulation agent.

The issuer is a Hamilton, Bermuda-based special-purpose entity formed to finance the construction of four very large crude carrier vessels under a long-term time charter to BP Shipping.

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