|By Business Wire||
|April 1, 2014 05:19 PM EDT||
First Wind Capital, LLC (“First Wind” or the “Company”) announced today that it has received the requisite consents from the holders of a majority in principal outstanding amount of its 10.25% senior secured notes due 2018 (the “Notes”) as of 5:00 p.m., New York City time, on April 1, 2014, pursuant to the Company’s previously announced consent solicitation (the “Consent Solicitation”) dated March 26, 2014.
As a result of receiving the requisite consents, the Company has executed a supplemental indenture to the indenture governing the Notes, effecting the proposed amendments approved in the Consent Solicitation. Pursuant to the terms of the supplemental indenture, the proposed amendments will not become operative until the Consent Fee (as defined below) has been paid.
The Company expects to make payment on April 4, 2014 of the consent fee (the “Consent Fee”) of $20.00 in cash per $1,000 in principal amount of the Notes as to which a valid consent was validly delivered prior to 5:00 p.m., New York City time, on Tuesday, April 1, 2014, when the Consent Solicitation expired. Payment of the Consent Fee to the consenting holders is subject to the satisfaction of the conditions of the Consent Solicitation, including the consummation of a debt financing in an aggregate principal amount of $75.0 million.
This press release is for informational purposes only and is not a solicitation of consent with respect to the Notes or any other securities. The consent solicitation has been made solely pursuant to the consent solicitation statement and the related letter of consent, which sets forth the complete terms of the Consent Solicitation.