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Alliance Automotive gets consents to amend 6¼% notes due 2021
By Susanna Moon
Chicago, March 6 – Alliance Automotive Holding Ltd.’s subsidiary Alliance Automotive Finance plc has secured the needed consents to amend its €540 million principal amount of 6¼% senior secured notes due 2021 and €100 million principal amount of floating-rate senior secured notes due 2021.
Alliance obtained the needed majority consents for the amendments and waivers on March 3, according to a company update.
As announced Feb. 27, Alliance was asking holders to allow the company to deliver the financial statements of Alize LuxCo 1 Sarl, its indirect parent company, in lieu of its own.
The consent solicitation had been set to end at 11 a.m. ET on March 7.
The issuer will pay €320,000 on a pro rata basis to holders who give their consents in the offer.
The amendments required consents from holders of at least a majority of the outstanding notes voting as a single class.
Lucid Issuer Services Ltd. (+44 20 7704 0880 or aag@lucid-is.com) is the tabulation agent and information agent.
The solicitation agent is Credit Suisse Securities (Europe) Ltd. (+44 20 7883 8763 or liability.management@credit-suisse.com).
Alliance is a Greny, France-based automotive parts supplier and repair services provider.
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