HydroChem extends consent solicitation for 9¼% notes

By Angela McDaniels

Seattle, May 24 - HydroChem Industrial Services, Inc. said it extended the consent solicitation for its $150 million 9¼% senior subordinated notes due 2013 to 5 p.m. ET on May 30 from May 23.

The company began soliciting consents on May 14 to amend the note indenture so that it will not be required to make a change-of-control tender offer for the notes in connection with the acquisition of its parent company, HydroChem Holding, Inc., by affiliates of Harvest Partners, LLC.

Noteholders who consent will receive a consent fee of $10 per $1,000 principal amount of notes.

Payment of the consent fee is conditioned upon the company receiving consents from holders of at least a majority of the outstanding notes and the closing of the acquisition, according to a company news release.

RBS Greenwich Capital and Credit Suisse are the solicitation agents, and D.F. King & Co., Inc. (888 887-1266 toll free or 212 269-5550 for banks and brokers) is the information agent.

HydroChem is an industrial cleaning services provider based in Deer Park, Texas.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.