Hines Horticulture seeks consents for 10¼% notes, plans to deregister stock

By Jennifer Chiou

New York, Jan. 28 - Hines Horticulture Inc. and subsidiary Hines Nurseries Inc. announced the start of a consent solicitation for their 10¼% senior notes due 2011.

The Irvine, Calif.-based operator of commercial nurseries said it is seeking to amend the note indenture to permit the company to cease filing reports with the Securities and Exchange Commission.

Hines needs consents from holders of a majority of notes.

The company also said that it anticipates filing a Form 15 on Feb. 7 with the SEC to deregister its common stock.

Hines noted that it is eligible to deregister because it has fewer than 300 shareholders of record. The company expects that its stock will continue to be quoted on the Pink Sheets after it deregisters.

On Oct. 11, the company said it retained Miller Buckfire & Co., LLC and Kirkland & Ellis LLP to assist management and the board of directors in evaluating its strategic alternatives.

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