LABL and Multi-Color start quick turnaround consent solicitation

Chicago, July 15 – LABL, Inc., with wholly-owned subsidiary Multi-Color Corp., started a consent solicitation for its 6¾% senior secured notes due 2026 and its 10½% senior notes due 2027 issued by LABL, according to a news release.

A consent fee of $2.50 per $1,000 notes will be paid to noteholders who deliver consents by the expiration time at 5 p.m. ET on July 21. Consents are revocable before that time.

The amendment is designed to allow Clayton, Dubilier & Rice, LLC to become permitted holders according to each of the indentures so that CD&R can purchase all of the direct or indirect outstanding equity of LABL without triggering a change of control. This would mean that there would be no change-of-control offer for the notes.

Noteholders representing at least a majority of both notes must consent for the proposed amendment to become effective.

The consents solicitations are not contingent on the success of the other solicitation.

D.F. King & Co., Inc. is the information and tabulation agent (212 269-5550, 800 992-3086, www.dfking.com/labl, labl@dfking.com).

The solicitation agents are BofA Securities, Inc. (980 388-3646, debt_advisory@bofa.com) and Goldman Sachs & Co. LLC (212 902-5962, 800 828-1382).

Multi-Color is a Batavia, Ohio-based label maker.

© 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.