ASR Media gets consents to waiver, amendments to 2024 notes

By Marisa Wong

Los Angeles, Sept. 9 – ASR Media and Sponsorship SpA announced it received consents from holders of 93.77% of its outstanding €275 million senior secured notes due 2024 (ISIN: XS2037757684, XS2037757502) to waivers and amendments to the indenture governing the notes.

ASR Media had launched a consent solicitation on Sept. 2 seeking noteholder approval of some waivers and amendments to the notes, which are guaranteed by Soccer Sas di Brand Management Srl.

Specifically, ASR asked noteholders to authorize a waiver of their change-of-control put option and approve related changes to the indenture. The notes are putable at 101 plus accrued interest upon a change of control.

The consent solicitation expired at 11 a.m. ET on Sept. 8.

Adoption of the proposed waivers and amendments will not become effective until the extraordinary resolution to amend the notes is passed at the noteholder meeting scheduled for 11 a.m. ET on Sept. 17 and operative until the consent payment is made.

The issuer is offering a consent payment of 4.5% of the principal amount of notes for which consents are delivered.

J.P. Morgan Securities plc (liability_management_EMEA@jpmorgan.com, +44 20 7134 2490) is the solicitation agent.

Lucid Issuer Services Ltd. (attn.: Arlind Bytyqi, +44 20 7704 0880, asroma@lucid-is.com) is the information and tabulation agent.

ASR is a special purpose entity for the Rome-based AS Roma soccer club.

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