Expiration

CURO Group Holdings Corp. Announces Expiration and Results of Consent Solicitation for its 7.500% Senior 1.5 Lien Secured Notes Due 2028

Retrieved on: 
Thursday, February 8, 2024

The Consent Solicitation was made pursuant to the terms of and subject to the conditions set forth in the Consent Solicitation Statement, dated February 5, 2024.

Key Points: 
  • The Consent Solicitation was made pursuant to the terms of and subject to the conditions set forth in the Consent Solicitation Statement, dated February 5, 2024.
  • The Consent Solicitation expired at 5:00 p.m., New York City time, on February 7, 2024 (the “Expiration Date”).
  • The Consent Solicitation was made solely through the Consent Solicitation Statement referred to above and related materials.
  • The Consent Solicitation was not made to Holders in any jurisdiction in which the Company was aware that the making of the Consent Solicitation would be unlawful.

Osprey Bitcoin Trust Announces Termination of Tender Offer

Retrieved on: 
Tuesday, February 6, 2024

Osprey Bitcoin Trust (OTCQX: OBTC), a Delaware statutory trust (“Osprey” or the “Trust”), announced today that it has terminated the previously announced offer to purchase for cash via tender offer (the “Offer”) up to 20% or 1,668,107 outstanding common units of fractional undivided beneficial interest (the “Units”) at a purchase price equal to their net asset value (“NAV”), less any applicable withholding taxes and fees payable to Osprey Funds, LLC, the sponsor of the Trust (the “Sponsor”).

Key Points: 
  • Osprey Bitcoin Trust (OTCQX: OBTC), a Delaware statutory trust (“Osprey” or the “Trust”), announced today that it has terminated the previously announced offer to purchase for cash via tender offer (the “Offer”) up to 20% or 1,668,107 outstanding common units of fractional undivided beneficial interest (the “Units”) at a purchase price equal to their net asset value (“NAV”), less any applicable withholding taxes and fees payable to Osprey Funds, LLC, the sponsor of the Trust (the “Sponsor”).
  • Capitalized terms used and not otherwise defined shall have the meanings assigned to such terms in the Offer to Purchase.
  • “We are disappointed to terminate the tender offer and puzzled by the regulatory stance here.
  • “We will continue to evaluate the best course of action for the Trust going forward with unitholders’ best interests in mind.”

CURO Group Holdings Corp. Announces Consent Solicitation for 7.500% Senior 1.5 Lien Secured Notes Due 2028

Retrieved on: 
Monday, February 5, 2024

Holders who deliver their consents pursuant to the Consent Solicitation Statement will not be entitled to any consent payment.

Key Points: 
  • Holders who deliver their consents pursuant to the Consent Solicitation Statement will not be entitled to any consent payment.
  • For a complete statement of the terms and conditions of the Consent Solicitation and the Proposed Waiver and Amendment, Holders should refer to the Consent Solicitation Statement.
  • The Consent Solicitation is being made solely through the Consent Solicitation Statement referred to above and related materials.
  • The Consent Solicitation is not being made to Holders in any jurisdiction in which the Company is aware that the making of the Consent Solicitation would be unlawful.

Bowlin Travel Centers, Inc. Announces Issuer Tender Offer

Retrieved on: 
Thursday, February 1, 2024

The Company expects to fund the purchase of shares in the Tender Offer with available cash.

Key Points: 
  • The Company expects to fund the purchase of shares in the Tender Offer with available cash.
  • The Company reserves the right, in its sole discretion, to waive any and all conditions to the Tender Offer.
  • Subject to applicable law, the Company may amend, extend, terminate or withdraw the Tender Offer.
  • The Company, its Board of Directors, or the Depositary Agent for the Tender Offer has not made and will not make any recommendations to Eligible Holders as to whether to tender or refrain from tendering their shares in the Tender Offer.

Frigorífico Concepción S.A. Announces Consent Solicitation

Retrieved on: 
Friday, February 2, 2024

ASUNCIÓN, Paraguay, Feb. 2, 2024 /PRNewswire/ -- Frigorífico Concepción S.A. (the "Company") hereby announces the commencement of its solicitation of consents (the "Consent Solicitation") to holders of its 7.700% Senior Secured Notes due 2028 for amendments to certain provisions of the Indenture governing the 2028 Notes, dated as of July 21, 2021 (the "Indenture"), among the Company, as Issuer, Frigorífico BFC S.A. (the "Bolivian Guarantor"), as Guarantor, The Bank of New York Mellon, as Trustee, Registrar and Paying Agent (the "Trustee"), and GLAS Americas LLC, as collateral agent (the "Collateral Agent").

Key Points: 
  • As of the date of the Consent Solicitation Statement, US$300,000,000 in aggregate principal amount of the 2028 Notes remains outstanding.
  • The Concurrent New Notes Offering is being conducted concurrently with the Consent Solicitation and is conditional upon the consummation of the Consent Solicitation.
  • The Expiration Time for the Consent Solicitation is 5:00 p.m., New York City time, on February 9, 2024 (as such time may be extended by Frigorífico Concepción S.A. in its sole discretion, the "Expiration Time").
  • BofA Securities, Inc. and J.P. Morgan Securities LLC are the Solicitation Agents in connection with the Consent Solicitation.

KRONOS WORLDWIDE ANNOUNCES EXCHANGE OFFER AND CONSENT SOLICITATION

Retrieved on: 
Tuesday, January 23, 2024

(2)    Per €1,000 principal amount of Old Notes validly offered for exchange (and not validly withdrawn) and accepted for exchange in the Exchange Offer, exclusive of any accrued and unpaid interest, which will be paid in cash.

Key Points: 
  • (2)    Per €1,000 principal amount of Old Notes validly offered for exchange (and not validly withdrawn) and accepted for exchange in the Exchange Offer, exclusive of any accrued and unpaid interest, which will be paid in cash.
  • In conjunction with the Exchange Offer, the Issuer is soliciting consents (the “Consent Solicitation”) from eligible holders participating in the Exchange Offer to effect certain proposed amendments (the “Proposed Amendments”) to the indenture governing the Old Notes (the “Existing Indenture”), which will conform the restrictive covenants in the Existing Indenture to the restrictive covenants of the New Notes.
  • Eligible holders who validly tender their Old Notes in the Exchange Offer (unless validly withdrawn) will be deemed to have submitted consents pursuant to the Consent Solicitation.
  • The Exchange Offer and Consent Solicitation will expire at 5:00 p.m., Central European Time, on February 21, 2024 (unless extended).

Western Asset High Income Fund II Inc. Authorizes Rights Offering

Retrieved on: 
Friday, January 19, 2024

Western Asset High Income Fund II Inc. (NYSE: HIX) (CUSIP: 95766J-10-2) (“HIX” or the “Fund”) announced today that its Board of Directors has approved a transferable rights offering (the “Offer”).

Key Points: 
  • Western Asset High Income Fund II Inc. (NYSE: HIX) (CUSIP: 95766J-10-2) (“HIX” or the “Fund”) announced today that its Board of Directors has approved a transferable rights offering (the “Offer”).
  • Franklin Templeton Fund Adviser, LLC (formerly known as Legg Mason Partners Fund Advisor, LLC) and Western Asset Management Company, LLC (“Western Asset”), each an indirect wholly-owned subsidiary of Franklin Resources Inc. and the Fund’s investment adviser and subadviser, respectively, believe that the Offer may benefit the Fund and its stockholders in several ways.
  • An increase in Fund assets may also have a positive impact on the Fund’s expense ratio, as fixed costs will be distributed over a larger asset base.
  • The Fund is actively managed, but there is no guarantee that Western Asset’s investment decisions will produce the desired results.

Sinovac Board of Directors Unanimously Rejects an Unsolicited Partial Tender Offer

Retrieved on: 
Thursday, January 18, 2024

Accordingly, the Board of Directors recommends that the Shareholders reject the Tender Offer and not tender their Shares for purchase pursuant to the Offer to Purchase by Alternative Liquidity.

Key Points: 
  • Accordingly, the Board of Directors recommends that the Shareholders reject the Tender Offer and not tender their Shares for purchase pursuant to the Offer to Purchase by Alternative Liquidity.
  • The Tender Offer was reviewed and considered by the Board of Directors, none of whom are affiliated with Alternative Liquidity.
  • The Board of Directors took into account various factors in evaluating the Tender Offer and in support of its recommendation that the Shareholders reject the Tender Offer and not tender their shares in the Tender Offer, including the following.
  • The Board of Directors’ belief in this regard is supported by Alternative Liquidity’s own characterization of the Tender Offer.

EchoStar Corporation Announces Exchange Offers and Consent Solicitations by DISH DBS Issuer LLC for Certain Existing Senior Notes Issued by DISH DBS Corporation

Retrieved on: 
Tuesday, January 16, 2024

Holders may not consent to the Proposed Amendments without tendering the applicable Existing DBS Notes in the relevant Exchange Offer, and holders may not tender Existing DBS Notes of any series for exchange without consenting to the Proposed Amendments for such series.

Key Points: 
  • Holders may not consent to the Proposed Amendments without tendering the applicable Existing DBS Notes in the relevant Exchange Offer, and holders may not tender Existing DBS Notes of any series for exchange without consenting to the Proposed Amendments for such series.
  • The occurrence of such event with respect to a series of Existing DBS Notes is referred to as the "Withdrawal Deadline" for such series of Existing DBS Notes.
  • If an Exchange Offer or the related Consent Solicitation with respect to a series of Existing DBS Notes is terminated or withdrawn, the Existing Indenture governing such series of Existing DBS Notes will remain in effect in its present form with respect to such series of Existing DBS Notes.
  • However, if the Proposed Amendments for a series of Existing DBS Notes become operative, holders of such series of Existing DBS Notes who do not tender Existing DBS Notes will be bound by the applicable Proposed Amendments, meaning that their Existing DBS Notes will be governed by an Existing Indenture as amended by the applicable Supplemental Indenture.

EchoStar Corporation Announces Exchange Offers and Consent Solicitations for 0% Convertible Senior Notes due 2025 and 3.375% Convertible Senior Notes due 2026 Issued by DISH Network Corporation

Retrieved on: 
Saturday, January 13, 2024

ENGLEWOOD, Colo., Jan. 12, 2024 /PRNewswire/ -- EchoStar Corporation (Nasdaq: SATS) ("EchoStar"), a global, fully integrated communication and content delivery leader and provider of technology, spectrum, engineering, manufacturing, networking services, television entertainment and connectivity bolstered by its merger with DISH Network Corporation ("DISH"), today announced that it has commenced offers to exchange (i) any and all of the 0% Convertible Notes due 2025 (the "DISH Network 2025 Notes") issued by its subsidiary DISH and (ii) any and all of the 3.375% Convertible Notes due 2026 issued by DISH (the "DISH Network 2026 Notes," and together with the DISH Network 2025 Notes, the "Existing DISH Notes"), each for 10.00% Senior Secured Notes due 2030 to be issued by EchoStar Corporation (the "EchoStar Notes"), in each case, pursuant to the terms described in a preliminary prospectus and consent solicitation statement, dated January 12, 2024 (the "Preliminary Exchange Offer Prospectus"). 

Key Points: 
  • Net of $42,803,000 and $91,199,000 of 0% Convertible Notes due 2025 and 3.375% Convertible Notes due 2026, respectively, that
    are held by DISH and not deemed outstanding.
  • The EchoStar Notes will not have recourse to any assets of any other subsidiary of EchoStar other than as set forth above.
  • Existing DISH Notes not exchanged in the exchange offers and consent solicitations will be returned to the tendering holder at EchoStar's expense promptly after the expiration or termination of the exchange offers and consent solicitations.
  • King & Co., Inc. is acting as exchange agent and information agent for the exchange offers and consent solicitations.