Advanced Lighting extends exchange offer for 10½% notes until Friday

By Susanna Moon

Chicago, Sept. 18 – Advanced Lighting Technologies, Inc. said it is extending the exchange offer for its outstanding 10½% senior secured notes due 2019 and 12½% senior secured pay-in-kind notes due 2019.

In exchange for the notes, Advanced is offering new second-lien notes due 2023 and membership interests of Advanced Lighting Technologies, LLC.

The exchange offer will now continue until 5 p.m. ET on Sept. 22, extended from 11:59 p.m. ET on Sept. 15.

The offer is being extended to allow more time for holders to participate in the offer, according to a company announcement.

As of the previous deadline, holders had tendered for exchange 91.64% of the notes.

In the consent solicitation associated with the offer, the company said it has received the consents needed to approve the proposed amendments to the notes indenture dated June 1, 2012 with U.S. Bank NA as trustee to eliminate substantially all of the restrictive covenants and some default provisions and to release the collateral securing the notes.

The consent solicitation ended at 5 p.m. ET on Sept. 1, when holders had tendered $169,514,046 principal amount, or 91.64%, of the notes.

The manufacturer of lighting materials is based in Glenwillow, Ohio.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.