Good Sam purchases no 11½% notes due 2016 under excess cash flow offer

By Marisa Wong

Madison, Wis., April 11 - Good Sam Enterprises, LLC's previously announced excess cash flow offer to purchase up to $4.95 million principal amount of its 11½% senior secured notes due 2016 expired on April 10.

As of the expiration date, none of the noteholders elected to have their notes purchased, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The offer began on March 12.

The purchase price was to be 101% of par plus accrued interest.

As previously noted, every six months the company is required to offer to redeem the notes using its excess cash flow amount.

Good Sam Enterprises is a Lincolnshire, Ill.-based specialty retailer of RV-related products and a member-based direct marketing organization targeting recreational vehicle owners and outdoor enthusiasts. Formerly known as Affinity Group, LLC, the company is a subsidiary of Affinity Group Holding, LLC.

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