Essar Steel Minnesota amends consent solicitation for 11½% notes

By Angela McDaniels

Tacoma, Wash., June 24 – Essar Steel Minnesota LLC amended the terms of its consent solicitation for its $450 million principal amount outstanding of 11½% senior secured notes due 2020, according to a company news release.

The news release did not disclose the terms of the consent solicitation other than the expiration time, which remains 5 p.m. ET on June 26.

The company said the largest holder of the notes has indicated that it plans to deliver its consent.

The consent solicitation began June 23.

Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2544) is the solicitation agent. D.F. King & Co., Inc. (800 549-6650 or 212 269-5550 banks and brokers) is the tabulation agent.

The iron ore producer is based in Hibbing, Minn., and is part of India-based Essar Group.

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