Multicanal noteholders' merger vote meeting moved to Dec. 22

By Caroline Salls

Pittsburgh, Dec. 2 - Multicanal SA said the special meeting of holders of its seven-year fixed-rate notes due 2013 and its 10-year fixed-rate notes due 2016 has been postponed to Dec. 22 from Dec. 17, according to a company news release.

As previously reported, the meeting is being held so the noteholders can vote on changes required in connection with Multicanal's merger with Cablevision SA.

Specifically, the noteholders will vote on changes to covenants that define asset sale limitations, consolidated interest write-offs, consolidated net income, consolidated interest expense, consolidated operating cash flow and limitations on transactions with shareholders and affiliates.

In addition, the noteholders will consider payment of a permitted technical assistance fee.

Seven-year noteholders will also vote on an excess cash stipulation as well as the elimination of current terms detailing limitations on interest expense, maximum total consolidated debt and limitations on restricted payments.

Multicanal is a Buenos Aires-based cable television provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.