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Doe Run extends early deadline in tender for 11¾% notes
By Jennifer Chiou
New York, Dec. 18 - Doe Run Resources Corp. said it extended the consent deadline for its $218.967 million of 11¾% senior notes due 2008 to noon ET on Dec. 22 from 5 p.m. ET on Dec. 19.
Holders who tender by the consent deadline will receive $1,002.50 per $1,000 principal amount, including a $2.50 per $1,000 consent payment.
Those who tender after that date but before the expiration of 5 p.m. ET on Jan. 4 will receive par.
Doe Run will also pay accrued interest up to but excluding the payment date.
Holders who tender will be deemed to have delivered consents to amendments to the note indenture, which will eliminate substantially all of the restrictive covenants and certain provisions relating to events of default and amend certain other related provisions.
Doe Run, a St. Louis-based natural resources company, said the tender is subject to conditions including the receipt of the necessary consents to make the amendments and completion of a $200 million offering of new notes.
The offer began on Dec. 5.
Wachovia Securities is dealer manager and solicitation agent (866 309-6316 or call collect 704 715-8341). U.S. Bank NA is depositary. The information agent is D.F. King & Co., Inc. (800 758-5378 or call collect 212 269-5550).
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