Norcross solicits consents to amend 9 7/8% notes, 11¾% notes

New York, June 13 - Norcross Safety Products LLC and Norcross Capital Corp. said they have started soliciting consents from holders of their 9 7/8% senior subordinated notes due 2011.

In addition, NSP Holdings LLC is soliciting consents for its 11¾% senior pay-in-kind notes.

The solicitation is in connection with the planned acquisition of the company by Safety Products Holdings, Inc. and is contingent on the sale closing. Safety Products Holdings plans to assume Norcross' debt.

Norcross is seeking to amend some provisions of the note indenture and waiver others, primarily to amend the definition of "permitted holder" to mean Odyssey Investment Partners Fund III, LP, General Electric Pension Trust and their affiliates and to waive Norcross' obligations to carry out a change-of-control tender offer.

Holders who consent will receive $2.50 per $1,000 principal amount of the 9 7/8% notes and $90.00 per $1,000 principal amount of the 11¾% notes.

The solicitations end at 11:59 p.m. ET on June 24.

The Oak Brook, Ill., maker of personal protection equipment needs the consents of holders of a majority of each series of notes.

Credit Suisse First Boston LLC is solicitation agent (800 820-1653 or call collect 212 538-0652). D.F. King & Co., Inc. is information agent and tabulation agent (800 848-2998 or call collect 212 269-5550).

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