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American Greetings extends deadline in consent bid for 7 7/8% notes
By Wendy Van Sickle
Columbus, Ohio, Feb. 27 – American Greetings Corp. is extending the deadline in the consent solicitation for its 7 7/8% senior notes due 2025 to 5 p.m. ET on March 6, according to a press release.
The consent solicitation, which opened on Feb. 20, was initially set to expire at 5 p.m. ET on Feb. 27.
The company is offering $2.50 per $1,000 principal amount to holders who deliver their consents to amend the note indenture such that the acquisition of no less than 60% of the direct or indirect outstanding equity of the company by Clayton, Dubilier & Rice, LLC or any affiliate would not be a “change of control” and no change of control offer would be required in connection with the acquisition.
The company will make the cash payment concurrently with the consummation of the acquisition.
D.F. King & Co., Inc. (212 269-5550, 800 676-7437 or agc@dfking.com) is the information and tabulation agent.
Deutsche Bank Securities Inc. (212 250-7527 or 855 287-1922) is the solicitation agent.
American Greetings is a Cleveland-based greeting card company.
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