American Greetings extends consent bid for 7 7/8% notes by three days

By Susanna Moon

Chicago, March 7 – American Greetings Corp. is again extending the consent solicitation for its 7 7/8% senior notes due 2025.

The solicitation will now continue until 5 p.m. ET on March 9, extended from 5 p.m. ET on March 6, according to a press release.

The consent solicitation opened on Feb. 20 and was initially set to expire at 5 p.m. ET on Feb. 27.

As previously announced, the company is offering $2.50 per $1,000 principal amount to holders who deliver their consents to amend the note indenture so 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 constitute 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 closing 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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