ASG announces tender, consent solicitation for 11½% notes due 2011

By Devika Patel

Knoxville, Tenn., April 20 - ASG Consolidated LLC announced that it has launched a tender offer and consent solicitation for all of the 11½% senior discount notes due 2011 issued by the company and ASG Finance, Inc.

The offer will expire at 11:59 p.m. ET on May 17.

Holders who tender and provide consents prior to the consent payment deadline of 5 p.m. ET on May 3 will receive the total consideration of $1,033.75 per $1,000 in notes, which includes a consent payment of $30.00 per $1,000 in notes, plus interest up to but excluding the payment date.

Holders who tender prior to the consent payment deadline could get paid as early as May 4.

Holders who tender their securities after the consent payment deadline but on or prior to the expiration date will receive the tender offer consideration of $1,003.75 per $1,000 principal amount of notes, plus interest.

The offer is conditional upon the company receiving enough consents to amend the notes' indenture and upon it completing its planned refinancing, which will include at least one debt financing.

Bank of America Merrill Lynch (888 292-0070 or 980 388-9217) is the dealer manager and solicitation agent. Global Bondholder Services Corp. (866 470-4500 or 212 430-3774) is the information agent.

ASG is a Seattle-based integrated seafood company.

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