Business News • MarketWire • Michaels Receives Required Consents to Amend Indenture in Connection With Consent Solicitation and Cash Tender Offer for Its 10% Senior Notes Due 2014 |
Michaels Receives Required Consents to Amend Indenture in Connection With Consent Solicitation and Cash Tender Offer for Its 10% Senior Notes Due 2014 |
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Michaels Receives Required Consents to Amend Indenture in Connection With Consent Solicitation and Cash Tender Offer for Its 10% Senior Notes Due 2014
IRVING, TX--(Marketwire - October 21, 2010) - Pursuant to its previously announced tender offer and consent solicitation, Michaels Stores, Inc. received tenders and consents from the holders of $658,593,000, or approximately 87.81%, of its outstanding 10% Senior Notes due 2014 (the "2014 Notes") by the expiration of the consent payment deadline, October 20, 2010, at 5:00 p.m. New York City time (the "Consent Date"). The consents received exceeded the number needed to approve the proposed amendments to the indenture under which the 2014 Notes were issued. The terms of the tender offer and consent solicitation for the 2014 Notes are detailed in Michaels' offer to purchase and consent solicitation statement dated October 6, 2010 (the "Offer to Purchase").
View More : http://www.marketwire.com/mw/release.do?id=1339234&sourceType=3
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