GREY:NKRSF - Post by User
Comment by
evenhandon Apr 27, 2016 11:17am
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Post# 24815152
RE:we hit bottom
RE:we hit bottom I am with you on the seeking to buy more. They only really needed to pick up 6 2/3% of notes consent. Haven't done the math, but since Disbrow stopped getting notes, my guess is that it is no problem and those that are in, are now in, and are being patient grasshoppers, perhaps occasionally picking up a few more nibbles.
The Indenture Amendments require the consent of Noteholders holding not less than 66 2/3% of the principal amount of the outstanding Notes (the “Requisite Consents”). As disclosed on March 14, 2016, Niko executed a support agreement with institutional lenders (the “Lenders”) holding approximately 85% of the senior term loan facilities (the “Term Loan”) and a support agreement with Noteholders (the “Consenting Noteholders”) holding approximately 60% of the Notes, each in support of the Company’s strategic plan of maintaining its core assets until the value of these assets can be enhanced for the benefit of the Company’s stakeholders. The Consenting Noteholders have agreed to execute consents approving of the Indenture Amendments.