Koppers Inc. announces commencement of consent solicitation
Nov 17, 2005. Koppers Inc. announced on Wednesday that it has commenced the solicitation of consents from holders of its 9 7/8% senior secured notes due 2013 to amend certain provisions of the indenture governing the notes.
Nov 17, 2005. /Lesprom Network/. Koppers Inc. announced on Wednesday that it has commenced the solicitation of consents from holders of its 9 7/8% senior secured notes due 2013 to amend certain provisions of the indenture governing the notes, as described in a consent solicitation statement being sent by the company to all holders of the notes as of November 16, 2005, the record date for the solicitation.
The consent solicitation is conditioned on the receipt of consents from holders of at least a majority in aggregate principal amount of the outstanding notes and other customary conditions and will expire at 5:00 p.m., New York City time, on December 1, 2005, unless extended. Subject to the conditions set forth in the Consent Solicitation Statement, including, without limitation, the condition that an initial public offering of the parent company of Koppers occurs, the company will pay a consent fee equal to 0.25% of the principal amount of notes ($2.50 per $1,000 principal amount of notes) to each holder that has delivered (and not revoked) a valid consent to the proposed amendment at or before 5:00 p.m., New York City time, December 1, 2005. Payment of such consent fee will be conditioned upon, and made following, the closing of the Parent IPO, the operational effectiveness of the supplemental indenture and the satisfaction of the other terms and conditions contained in the Consent Solicitation Statement. The consent solicitation may be amended, extended or terminated, at the option of the company, as set forth in the Consent Solicitation Statement. For a complete statement of the terms and conditions of the consent solicitation, holders of the notes should refer to the Consent Solicitation Statement.
Koppers, with corporate headquarters and a research center in Pittsburgh, Pennsylvania, is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates 36 facilities in the United States, United Kingdom, Denmark, Australia, China, the Pacific Rim and South Africa. The company is a wholly owned subsidiary of KI Holdings Inc.