ASG settles early tenders of 98.5% of 11½% notes by consent date

By Susanna Moon

Chicago, May 10 - ASG Consolidated LLC announced the early settlement of the tender offer and consent solicitation for all 11½% senior discount notes due 2011 issued by the company and ASG Finance, Inc.

As of 5 p.m. ET on May 3, the consent time, investors tendered $247,294,000 principal amount, or 98.5%, of the outstanding notes.

Holders received accrued interest to May 7, the early settlement date.

The total payment was $1,033.75 per $1,000 principal amount, including a $30.00 premium for notes tendered by the consent payment deadline.

The offer will expire at 11:59 p.m. ET on May 17. It began on April 20.

The offer is conditional upon the company receiving enough consents to amend the notes' indenture and upon completing its planned refinancing, which will include at least one debt financing.

Bank of America Merrill Lynch (888 292-0070 or 980 388-9217) is the dealer manager and solicitation agent. Global Bondholder Services Corp. (866 470-4500 or 212 430-3774) is the information agent.

ASG is a Seattle-based integrated seafood company.

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