Hawk to launch consent solicitation for $75.7 million 8¾% notes Monday

By Angela McDaniels

Tacoma, Wash., Feb. 5 - Hawk Corp. will begin a consent solicitation on Feb. 8 for its $75.7 million outstanding principal amount of 8¾% senior notes due 2014, according to a company news release.

The company will solicit consents from the noteholders to amend the indenture governing the notes to allow Hawk to repurchase up to $20 million of its outstanding common stock. Consents are needed from a majority of the noteholders.

The consent fee is $20 per $1,000 principal amount of notes.

Only noteholders of record as of 5 p.m. ET on Feb. 5 are eligible to receive the consent fee.

The consent solicitation will expire at 5 p.m. ET on Feb. 22.

Jefferies & Co., Inc. (888 708-5831) is the solicitation agent.

Hawk is a Cleveland-based supplier of friction materials for brakes, clutches and transmissions. It also manufactures fuel cell components.

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