Thermadyne Holdings gets consents from most 9¼% noteholders after filing delay

By Jennifer Chiou

New York, May 10 - Thermadyne Holdings Corp. announced it received the required consents from holders of its $175 million of 9¼% senior subordinated notes due 2014 after a delay in filing its 10-K for 2005.

The company began the consent solicitation on May 9 to modify the note indenture, allowing the company until June 15 to file its 10-K for the year ended Dec. 31 and other required reports.

Proposed amendments also require the company to apply excess cash flow to either repay senior indebtedness or offer to redeem notes at 101% of their principal amount.

The consent solicitation ends on May 16.

For each $1,000 principal amount of notes, Thermadyne said it will pay a $2.50 fee.

The company also said it filed a notification of late filing for its 10-Q for the three months ended March 31.

As previously announced, the St. Louis-based designer and manufacturer of cutting and welding products was analyzing whether its subsidiaries have been accurately applying U.S. GAAP to the accounting for foreign currency translations.

Credit Suisse is the solicitation agent (800 820-1653 or call collect 212 325-7596) and The Altman Group is the information agent (call collect 201 806-7300).

© 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.