Invitel Holdings A/S Announces Consent Solicitation by Subsidiary for Outstanding Senior Notes
07 Diciembre 2009 - 3:41AM
Business Wire
Invitel Holdings A/S (NYSE Amex U.S.:IHO) (“Invitel”) announced
today a solicitation of consents (the “Consent Solicitation”) by
its subsidiary, Magyar Telecom B.V. (“Magyar Telecom”), from
holders of Magyar Telecom’s outstanding floating rate notes due
2013 (the “Notes”) to certain proposed amendments and waivers (the
“Proposed Amendments and Waivers”) to the indenture governing the
Notes (the “Indenture”). The purpose of the Proposed Amendments and
Waivers is to amend the Indenture to permit Invitel and its
subsidiaries to refinance certain of its indebtedness.
The Consent Solicitation is being made as part of a series of
transactions which include the launch of a €340 million aggregate
principal amount senior secured note offering (the “Notes
Offering”), the proceeds of which will be used to repay certain
indebtedness of Invitel and its subsidiaries. The consummation of
the Consent Solicitation is subject to the closing of the Notes
Offering and certain other conditions described in the Consent
Solicitation Statement.
Magyar Telecom has entered into a lock-up agreement (the Lock-Up
Agreement”) with certain holders of Notes (the “Consenting
Noteholders”) who beneficially own over 50% of the outstanding
aggregate principal amount of the Notes.
ABOUT INVITEL HOLDINGS A/S
Invitel Holdings A/S is the number one alternative and the
second-largest fixed line telecommunications and broadband Internet
services provider in the Republic of Hungary. In addition to
delivering voice, data and internet services in Hungary, it is also
a leading player in the Central and Eastern European wholesale
telecommunications market.
Forward-Looking Statements and
Legal Information
The information above includes forward-looking statements about
Invitel Holdings A/S and its consolidated subsidiaries. These and
all forward-looking statements are only predictions of current
plans that are constantly under review by Invitel Holdings. Such
statements are qualified by important factors that may cause actual
results to differ from those contemplated, including those risk
factors detailed from time to time in Invitel Holdings’ U.S.
Securities and Exchange Commission (“SEC”) filings, which may not
be exhaustive. For a discussion of such risk factors, see Invitel
Holdings’ filings with the SEC including, but not limited to, its
2008 Annual Report on Form 20-F. Invitel Holdings operates in a
continually changing business environment, and new risk factors
emerge from time to time. Invitel Holdings cannot predict such new
risk factors, nor can it assess the impact, if any, of such new
risk factors on its business or events described in any
forward-looking statements. Invitel Holdings has no obligation to
publicly update or revise any forward-looking statements to reflect
the occurrence of future events or circumstances.
This press release does not constitute or form a part of an
offer of securities for sale in the United States (including its
territories and possessions, any State of the United States and the
District of Columbia). Securities may not be offered or sold into
the United States absent registration or an exemption from
registration as provided in the U.S. Securities Act of 1933, and
the rules and regulations thereunder.
The information contained herein does not constitute an offer to
sell or the solicitation of an offer to buy, nor will there be a
tender for any securities referred to herein in any jurisdiction in
which such offer to sell or solicitation of an offer to buy or
tender would be unlawful prior to registration, exemption from
registration or qualification under the securities laws of any such
jurisdiction. The forwarding distribution and reproduction of this
press release may be restricted by law in certain jurisdictions and
persons into whose possession this press release or other
information referred to herein comes should inform themselves about
and observe any such restrictions.
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