Mercury Interactive solicits consents for 4.75% convertibles, zero-coupon convertibles

By Jennifer Chiou

New York, Oct. 7 - Mercury Interactive Corp. announced the start of a consent solicitation for its $300 million of 4.75% convertible subordinated notes due 2007 and $500 million of zero-coupon senior convertible notes due 2008.

The solicitation ends at 5 p.m. ET on Oct. 18, unless extended.

In each case, Mercury said it is requesting a limited waiver until March 31, 2006 of any default or event of default due to its failure to file required reports with the Securities and Exchange Commission.

The company is offering a consent fee of $15.00 for each $1,000 principal amount of 4.75% convertibles and $75.00 for each $1,000 principal amount of zero-coupon convertibles to holders of record as of Oct. 7.

The proposed waivers require consents from at least a majority of noteholders.

MacKenzie Partners, Inc. is the tabulation agent (call collect 212 929-5500 or 800 322-2885).

Based in Mountain View, Calif., Mercury provides software and services for information technology governance, application delivery and application management.

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