Timco extends early conversion offer for convertibles

New York, March 2 - Timco Aviation Services, Inc. said it has extended its early conversion offer for its 8% senior subordinated convertible PIK notes due 2006 and 8% junior subordinated convertible PIK notes due 2007 to give holders more time to complete paperwork.

The offer will now expire at 5 p.m. ET on March 8, pushed back from 5 p.m. ET on March 1.

The company is offering a 15% premium.

Timco is also asking noteholders to approve proposed amendments to the indentures which would remove all material covenants.

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