THE WOODLANDS, Texas–(Business WIRE)–Jan 21, 2021–
GPD Companies, Inc. (formerly recognised as Nexeo Plastics Holdings, Inc.) (the “ Company ”) now declared that it has been given consents from holders representing 99.29% of its 10.125% Senior Secured Notes due 2026 (144A CUSIP: 64051NAA1, Regulation S CUSIP: U6404NAA3) (the “ Notes ”) pursuant to its previously declared solicitation of consents (the “ Consent Solicitation ”), which expired now at 5:00 p.m., New York City time (the “ Expiration Time ”). The consents been given in the Consent Solicitation permit the Corporation to modify the definitions of “Permitted Debt” and “Permitted Liens” in the indenture governing the Notes (the “ Indenture ”) in buy to improve the amount of “Additional Notes” (as defined in the Indenture) or other secured indebtedness that the Firm is presently permitted to incur by $75. million in purchase to fund the acquisition of just one or far more “Permitted Businesses” (as defined in the Indenture) on or prior to June 30, 2021 (this sort of amendments, the “ Proposed Amendments ”).
The Firm has executed a supplemental indenture (the “ Supplemental Indenture ”) to the Indenture to influence the Proposed Amendments authorised in the Consent Solicitation. The Proposed Amendments will turn into operative upon payment of the Consent Charge (as described below) and satisfaction or waiver of the other situations set forth in the Consent Solicitation Assertion relating to the Consent Solicitation, such as the consummation of an offering of “Additional Notes” or other personal debt financing in an combination principal amount of extra than $25. million, which volume was incurred underneath Area 4.09(b)(24) of the Indenture as amended by the Supplemental Indenture (the “ Financial debt Financing ”).
The Corporation will pay to each individual holder that validly shipped (and did not validly revoke) a consent in respect of the Proposed Amendments at or prior to the Expiration Time U.S.$5.00 for each U.S.$1,000 principal volume of Notes (the “ Consent Price ”) as instantly as practicable soon after the gratification or waiver of the situations set forth in the Consent Solicitation Statement, such as consummation of the Financial debt Financing.
This press launch is for informational applications only and is not meant to, and does not, represent or variety section of any offer, invitation or the solicitation of an offer you to invest in, if not acquire, subscribe for, sell or usually dispose of, any securities whether or not pursuant to this push release or usually.
Forward-On the lookout Statements
This push launch is made up of ahead-hunting statements, including with respect to the Consent Solicitation. Real results may vary materially from these mirrored in the forward-on the lookout statements. We undertake no obligation to release publicly the final result of any revisions to these forward-seeking statements to reflect gatherings or circumstances immediately after the date hereof.
About GPD Corporations, Inc.
GPD Firms, Inc. (formerly recognized as Nexeo Plastics Holdings, Inc.) owns Nexeo Plastics, LLC, a top world wide thermoplastic resins distributor, representing high quality solutions from earth-class suppliers, and serving a assorted buyer foundation across North The us, Latin The usa, Europe, Middle East, Africa and Asia. From substance range assistance to figuring out offer chain and stock methods, we go further than classic logistics to present price-included companies throughout quite a few industries, which include automotive, healthcare, packaging, wire and cable, 3D printing and a lot more.
E mail:[email protected]
Keyword: UNITED STATES NORTH The united states CANADA TEXAS
Sector Search term: Producing OTHER Production TEXTILES PACKAGING Chemical compounds/PLASTICS
Supply: GPD Organizations, Inc.
Copyright Business Wire 2021.
PUB: 01/21/2021 08:23 PM/DISC: 01/21/2021 08:23 PM
Copyright Enterprise Wire 2021.