Bally Total Fitness ups fee in consent solicitation for 10½% and 9 7/8% notes, extends deadline

New York, Dec. 2 - Bally Total Fitness Holding Corp. said it has increased the initial fee on offer in its solicitation of consents from holders of its 10½% senior notes due 2011 and 9 7/8% senior subordinated notes due 2007 to waivers of defaults under the indentures governing the notes.

The company also extended the solicitation to 5 p.m. ET on Dec. 7 from 5 p.m. ET on Dec. 3.

The initial consent fee is now $5.00 per $1,000 principal amount. Any additional consent fees that the company pays will remain at $2.50 per $1,000 principal amount.

The defaults relate to Bally's failure to file its financial statements with the Securities and Exchange Commission in a timely manner and deliver the financial statements to the notes' indenture trustee.

Bally, a Chicago-based nationwide operator of fitness clubs, is soliciting consents from holders of record as of Nov. 18.

Deutsche Bank Securities Inc. is the solicitation agent (contact Christopher White at 212 250-6008). MacKenzie Partners Inc. is the information agent (call Jeanne Carr or Simon Coope at (800 322-2885 or call collect at 212 929-5500).

© 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.