AS 4finance gets needed consents to amend $170 million 13% notes

By Jennifer Chiou

New York, July 11 – AS 4finance announced the close of the successful consent solicitation for its $170 million of 13% senior notes due 2015.

According to a filing with the London Stock Exchange, the issuer received the needed consents for certain amendments to the terms and conditions of the notes and related waivers and agreements.

Specifically, the issuer obtained a waiver of any breach of Condition 5(g), “No Consolidation or Merger,” that may have arisen as the result of a transfer of shares to 4finance Holding SA from the issuer as well as the abrogation of any rights and remedies that the noteholders may have as a result of such breach.

Noteholders who delivered voting instructions in favor of the extraordinary resolution prior to the early instruction deadline, 11 a.m. ET on July 2, will receive an early instruction fee of $5.00 per $1,000 principal amount of notes if the resolution passes.

The consent solicitation expired at 5 a.m. ET on July 10.

Credit Suisse Securities (Europe) Ltd. (44 0 207 704 0880 or liability.management@credit-suisse.com) was the solicitation agent. Lucid Issuer Services Ltd. (44 0 207 704 0880 or 4finance@lucid-is.com) was the tabulation agent.

The provider of short-term loans is based in Riga, Latvia. It launched the consent solicitation on June 19.

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