Stena again extends consent solicitations for 7½%, 7% notes

By Angela McDaniels

Seattle, April 19 - Stena AB further extended the consent solicitations for its $175 million of 7½% senior notes due 2013 and $250 million of 7% senior notes due 2016 to 5 p.m. ET on May 4 from April 20, according to a 6-K report filed with the Securities and Exchange Commission on Thursday.

The deadline was previously extended from April 6. The solicitations began on March 23.

The company is soliciting consents to make the note indentures generally consistent with the indentures of its 6 1/8% senior notes due 2017 and 5 7/8% senior notes due 2019.

Consenting noteholders will receive $20.00 for each $1,000 principal amount of notes held.

Stena said it needs consents from holders of a majority of notes. The solicitations are also conditioned on the receipt of necessary consents for both series of notes.

MacKenzie Partners, Inc. is the information agent (800 322-3885 or call collect 212 929-5500), and JPMorgan is the solicitation agent (800 245-8812 or call collect 212 270-1477).

Stena is based in Gothenburg, Sweden, and has operations in shipping and offshore oil and gas exploration.

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