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HydroChem extends consent solicitation for 9¼% notes
By Angela McDaniels
Seattle, May 24 - HydroChem Industrial Services, Inc. said it extended the consent solicitation for its $150 million 9¼% senior subordinated notes due 2013 to 5 p.m. ET on May 30 from May 23.
The company began soliciting consents on May 14 to amend the note indenture so that it will not be required to make a change-of-control tender offer for the notes in connection with the acquisition of its parent company, HydroChem Holding, Inc., by affiliates of Harvest Partners, LLC.
Noteholders who consent will receive a consent fee of $10 per $1,000 principal amount of notes.
Payment of the consent fee is conditioned upon the company receiving consents from holders of at least a majority of the outstanding notes and the closing of the acquisition, according to a company news release.
RBS Greenwich Capital and Credit Suisse are the solicitation agents, and D.F. King & Co., Inc. (888 887-1266 toll free or 212 269-5550 for banks and brokers) is the information agent.
HydroChem is an industrial cleaning services provider based in Deer Park, Texas.
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