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Centric Health Announces Offer to Purchase All Second Lien Senior Secured Notes
Centric Health Announces Offer to Purchase All Second Lien Senior Secured Notes Ce...
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[{"type":"text","content":"\n\n\n\nCentric Health Announces Offer to Purchase All Second Lien Senior Secured Notes\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCentric Health Announces Offer to Purchase All Second Lien Senior Secured Notes\nCanada NewsWire\nTORONTO, Jan. 19, 2016\n\n\n\nTORONTO, Jan. 19, 2016 /CNW/ - Centric Health Corporation (\"Centric Health\" or \"the Company\") (TSX: CHH) today announced that it intends to offer to purchase, for par value (the \"Offer Price\"), all of its remaining 8.625% Second Lien Senior Secured Notes (the \"Notes\") currently outstanding, together with accrued and unpaid interest up to but excluding the date of purchase (the \"Offer to Purchase\").\n\nConcurrently with the Offer to Purchase, the Company also intends to solicit the consents of the holders of the outstanding Notes to amend its trust indenture (the \"Indenture\") dated April 18, 2013 among the Company, each of the guarantors party thereto, and Equity Financial Trust Company (the \"Consent Solicitation\"). The proposed amendments are intended to provide the Company, subject to certain limitations, with additional flexibility to, among other things, repurchase, redeem or otherwise acquire for value or retire its outstanding securities, make interest and principal payments on subordinated debt, incur additional indebtedness, alter the size of its Revolving Credit Facility, make distributions to shareholders, and make additional acquisitions and dispositions (the \"Amendments\"). The Consent Solicitation shall close immediately prior to the completion of the Offer to Purchase described above. The Amendments require the approval of holders of Notes representing at least 50% of the principal amount of the Notes outstanding. As of the date hereof, the Company has received commitments from holders of over 70% of the outstanding Notes to consent to the proposed Amendments. Centric Health has retained National Bank Financial Inc. to act as the Solicitation Agent for the solicitations of consent.\n\nRegistered holders of the Notes wishing to participate must provide a duly completed Letter of A...