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Quicksilver gets consents needed to amend 1.875% convertibles
By Angela McDaniels
Tacoma, Wash., July 31 - Quicksilver Resources Inc. said it received enough consents from the holders of its 1.875% convertible subordinated debentures due 2024 to amend the indenture governing the convertibles.
A consent solicitation for the convertibles began July 22 and ended at 5 p.m. ET on July 31.
The company was looking to amend the definition of designated subsidiary contained in the indenture in order to provide it with greater strategic and operational flexibility, including greater flexibility to grow and expand the operations of Quicksilver Gas Services Holdings LLC, Quicksilver Gas Services LP, its general partner, Quicksilver Gas Services GP LLC, and its subsidiaries.
The company offered a consent fee of $5 per $1,000 principal amount of convertibles.
BofA Merrill Lynch (888 292-0070 or 980 388-4603) was the solicitation agent, and Global Bondholder Services Corp. was the information agent (866 294-2200 or 212 430-3774).
Quicksilver Resources is a natural gas and crude oil producer based in Fort Worth.
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