Results Of The Consent Solicitation In Relation To 10.00% Senior Notes Due 2014
XINYU CITY, China and SUNNYVALE, Calif., Dec. 21, 2012 /PRNewswire/ -- Reference is made to the announcement of LDK Solar Co., Ltd. (the " LDK Solar") (NYSE: LDK), dated December 14, 2012 in relation to the solicitation of consents (the " Consent Solicitation") described below. As indicated in the consent solicitation statement dated December 14, 2012 (the " Consent Solicitation Statement"), the consent solicitation period expired at 5:00 p.m., London time, on December 21, 2012.
LDK Solar announces that it has received the required number of unrevoked consents (the " Requisite Consents") from holders of its 10.00% Senior Notes Due 2014 (ISIN No. XS0592597099, Common Code: 059259709) (the " 2014 Notes") necessary to approve certain proposed amendments described in the Consent Solicitation Statement (the " Proposed Amendments") to the indenture, dated as of February 28, 2011 (as supplemented or amended to the date hereof, the " Indenture"), by and among LDK Solar, the Subsidiary Guarantors (as defined therein), The Bank of New York Mellon, London Branch, as trustee (the " Trustee") and paying and transfer agent, and The Bank of New York Mellon ( Luxembourg) S.A., as registrar, governing its 2014 Notes. Unless otherwise defined herein, capitalized terms used in this announcement have the meanings set forth in the Indenture.
LDK Solar will make a cash payment (the " Consent Fee") to each holder of the 2014 Notes for each RMB10,000 in principal amount of 2014 Notes in respect of which such holder has validly delivered (and not validly revoked) a consent prior to the expiration date. The Consent Fee of RMB10 per RMB10,000 in principal amount of 2014 Notes will be payable in U.S. dollars applying an exchange rate of RMB6.25 to US$1.00, resulting in a Consent Fee of US$1.60 per RMB10,000 in principal amount of 2014 Notes.
As the Requisite Consents have been obtained, LDK Solar and the Subsidiary Guarantors intend to execute a supplemental indenture (the " Supplemental Indenture") with the Trustee as soon as practicable to give effect to the Proposed Amendments.
The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
