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Prospect News home > News index > List of issuers T > Headlines for Tenders 2007 > News item |
Doe Run obtains necessary consents for 11¾% notes
By Jennifer Chiou
New York, Dec. 28 - Doe Run Resources Corp. said it received the required consents to amend its $218.967 million of 11¾% senior notes due 2008.
The consent deadline was noon ET on Dec. 22, extended from 5 p.m. ET on Dec. 19.
Holders who tendered by the consent deadline will receive $1,002.50 per $1,000 principal amount, including a $2.50 per $1,000 consent payment.
Doe Run noted that those who deliver their securities to the depositary by Dec. 28 will also receive the total consideration of $1,002.50.
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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