AGY Holding amends 11% notes with consents from holders

By Laura Lutz

Des Moines, March 28 - AGY Holding Corp. announced that it amended its 11% senior second lien notes due 2014 after receiving consents from holders of a majority of the outstanding notes.

The notes were amended in connection with a consent solicitation that expired at 5 p.m. ET on March 28.

It was launched on March 18.

The amendments increased the maximum allowed value of consigned platinum under a consignment agreement and increased the consignment reserve in exchange for a reduction of the required standby letter of credit collateral, according to a March 18 press release.

UBS Securities LLC (888 719-4210 or 203 719-4210) is the solicitation agent. Global Bondholder Services Corp. (866 873-6300 or 212 430-3774) is the information agent.

Based in Aiken, S.C., AGY produces fiberglass yarns and high-strength fiberglass reinforcements.

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