Hawk gets consents needed to amend $75.74 million 8¾% notes due 2014

By Angela McDaniels

Tacoma, Wash., Feb. 24 - Hawk Corp. received consents from holders of $75,585,000 principal amount, or 99.8%, of its $75.74 million of 8¾% senior notes due 2014, according to a company news release.

A consent solicitation for the notes began on Feb. 8 and expired at 5 p.m. ET on Feb. 22.

The company was soliciting consents to amend the indenture governing the notes to allow Hawk to repurchase up to $20 million of its outstanding common stock. Consents were needed from a majority of the noteholders.

Noteholders of record as of 5 p.m. ET on Feb. 5 who delivered consents will receive a consent fee of $20.00 per $1,000 principal amount of notes.

Jefferies & Co., Inc. (888 708-5831) was the solicitation agent.

Hawk is a Cleveland-based supplier of friction materials for brakes, clutches and transmissions. It also manufactures fuel cell components.

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