Insight, subsidiaries get required consents for 12¼% notes, 9¾% notes, 10½% notes

By Jennifer Chiou

New York, Oct. 13 - Insight Communications Co., Inc. announced it received the required consents to amend its 12¼% senior discount notes due 2011 while Insight Midwest, LP and Insight Capital, Inc. also obtained consents for their 9¾% senior notes due 2009 and 10½% senior notes due 2010.

The deadline was 5 p.m. ET on Oct. 12.

The New York cable television system operator and its 50% owned subsidiaries solicited consents to waive an indenture provision relating to its merger agreement with Insight Acquisition Corp. and related transactions.

Insight Communications said it will pay holders 0.125% of the accreted value of their 12¼% notes and 0.125% of the principal amount of their Insight Midwest notes.

J.P. Morgan Securities Inc. and Banc of America Securities LLC are the consent solicitation agents.

© 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.