Apogent extends consent deadline for 6½% notes

New York, June 14 - Apogent Technologies Inc. (Ba2/BB+) said it has extended the pending solicitation of noteholder consents to changes in the indenture of its 6½% senior subordinated notes due 2013, which it undertook as part of its previously announced tender offer for those notes.

Apogent said that the consent deadline was extended to 5 p.m. ET on June 17, subject to possible further extension, from the originally announced June 11 deadline.

The underlying tender offer meanwhile continues and is scheduled to expire on July 1, subject to possible extension.

As previously announced, Apogent Technologies, a Portsmouth, N.H.-based laboratory and life sciences products company, said on May 28 that it had begun a cash tender offer for all its $250 million principal amount of the 6½% notes and was also soliciting consents to amend the notes to eliminate substantially all of the restrictive covenants.

The company set a June 11 consent deadline, which has now been extended, and said that the offer would expire at 5 p.m. ET on July 11, subject to possible extension.

It said it would offer 101.75% of par for holders tendering by the consent deadline and 101% of par for holders tendering after that point but before the July 1 expiration date. All tendering holders would also receive accrued interest up to, but not including the settlement date.

The company said holders could not consent to the amendments without also tendering their notes and could not revoke their consents without also withdrawing the previously tendered notes.

It further said that the tender offer and consent solicitation would be subject to various conditions, including but not limited to, the completion of the proposed merger between Apogent and Fisher Scientific International Inc., and the receipt of the required consents in the consent solicitation.

Goldman, Sachs & Co. is the dealer manager and solicitation agent (800 828-3182). Innisfree M&A Inc. is the information agent (888 750-5834).

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