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Insight, subsidiaries get required consents for 12¼% notes, 9¾% notes, 10½% notes
By Jennifer Chiou
New York, Oct. 13 - Insight Communications Co., Inc. announced it received the required consents to amend its 12¼% senior discount notes due 2011 while Insight Midwest, LP and Insight Capital, Inc. also obtained consents for their 9¾% senior notes due 2009 and 10½% senior notes due 2010.
The deadline was 5 p.m. ET on Oct. 12.
The New York cable television system operator and its 50% owned subsidiaries solicited consents to waive an indenture provision relating to its merger agreement with Insight Acquisition Corp. and related transactions.
Insight Communications said it will pay holders 0.125% of the accreted value of their 12¼% notes and 0.125% of the principal amount of their Insight Midwest notes.
J.P. Morgan Securities Inc. and Banc of America Securities LLC are the consent solicitation agents.
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