Phoenix Color solicits consents for 10 3/8% notes to end public filing

New York, Oct. 27 - Phoenix Color Corp. said it is soliciting consents from holders of its 10 3/8% senior subordinated notes due 2009 to end the requirement that it file reports with the Securities and Exchange Commission.

The amendments would also allow the company to buy up to $1.5 million of the notes in the open market.

Phoenix Color is also proposing to raise the interest rate on the notes to 11% from Nov. 1 until it repays the principal amount.

The solicitation ends at 5 p.m. ET on Oct. 19.

Holders who consent will receive a consent fee of $5.00 per $1,000 principal amount.

Phoenix Color, a Hagerstown, Md., book component printing and book manufacturing company, needs the necessary consents and a waiver under its bank facility to complete the amendment.

© 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.