American Lawyer Media again extends consent solicitation

New York, Feb. 3 - American Lawyer Media Inc. and American Lawyer Media Holdings Inc. said they are again extending their consent solicitation for the 9¾% senior notes due 2007 issued by American Lawyer Media Inc. and the 12¼% senior discount notes due 2008 issued by American Lawyer Media Holdings.

The solicitation will now expire at 5 p.m. ET Feb. 6, pushed back from 5 p.m. ET Feb. 3 and from 5 p.m. ET Jan. 30 originally.

The consent solicitation was announced on Jan. 23.

The companies are seeking to amend the indentures for the two series of notes to modify the definition of permitted indebtedness to increase the debt allowed under a credit agreement to $65 million from $40 million.

The New York legal publisher is also seeking to change the definition of permitted lien to increase the allowable liens securing obligations under a credit agreement to $65 million from $40 million.

Holders of the 9¾% senior notes who deliver consent will receive a payment of $5.00 per $1,000 principal amount.

Holders of the discount notes will not receive a payment for delivering consent.

Consents are required from the holders of a majority of the principal amount of each series of notes to modify the indenture.

American Lawyer Media has $175 million of the 9¾% senior notes outstanding of which $7.34 million is held by company Chairman Bruce Wasserstein or his affiliates and $80.26 million principal amount at maturity of the discount notes outstanding of which $39.26 million is held by Wasserstein or his affiliates.

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