| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for ABB Ltd. > News item |
ABB's Thomas & Betts gets consents to amend $250 million 5.625% bonds
By Susanna Moon
Chicago, June 1 - Thomas & Betts Corp. said the consent solicitation for its $250 million of 5.625% senior bonds due 2021 expired at 5 p.m. ET on May 31 and that it received the needed consents to amend the notes.
In exchange for the consents, Thomas & Betts will pay $1.25 in cash per $1,000 principal amount of notes, according to a press release by Thomas & Betts.
ABB Ltd., the parent company, guarantees the bonds.
The company sought consents to amend the notes to change reporting obligations and to increase flexibility for the Thomas & Betts integration into the ABB Group, according to a previous release by ABB.
Holders of more than half of the outstanding bonds needed to agree to the amendments in order for them to be implemented, the release noted.
The offer began on May 21.
Bank of America Merrill Lynch (collect 646 855-3401) is the solicitation agent. Global Bondholder Services Corp. (attn. corporate actions, 866 873-6300, 212 430-3774 or fax 212 430-3775/3779) is the tabulation and information agent.
Thomas & Betts is an electrical, steel and HVAC product company.
© 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.