GenCorp again extends consent solicitation for 9½% notes due 2013, ups payment

By Jennifer Chiou

New York, June 23 - GenCorp Inc. has extended its consent solicitation to amend the indenture of its 9½% senior subordinated notes due 2013 another time and increased the payment on offer.

The solicitation now ends at 5 p.m. ET on June 27 instead of 5 p.m. ET on June 23. Earlier Friday it was extended from 5 p.m. ET on June 22.

The deadline was previously extended to 5 p.m. ET on June 21 from 5 p.m. ET on June 20.

GenCorp also increased the payment on offer to $6.00 per $1,000 principal amount from $1.25.

The amendment will permit GenCorp to increase indebtedness under its senior credit agreement.

As announced on June 8, GenCorp is seeking consents from a majority of noteholders and said it will pay a consent fee of $1.25 for each $1,000 principal amount of notes, a figure now increased.

Wachovia Securities is the solicitation agent (call collect 704 715-8341 or 866 309-6316). Global Bondholder Services Corp. is the tabulation and information agent (call collect 212 430-3774 or 866 470-4500).

The Sacramento, Calif., company is a technology-based manufacturer of aerospace and defense products.

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