Crescent Resources Announces Receipt Of Requisite Consent For Consent Solicitation For Senior Secured Notes Due 2017
CHARLOTTE, N.C., Feb. 5, 2013 /PRNewswire/ -- Crescent Resources, LLC (the "Company") announced today that the Company and Crescent Ventures, Inc., a wholly owned subsidiary of the Company (together, the "Issuers"), have received, pursuant to their previously announced solicitation of consents (the "Consent Solicitation") to amend (the "Proposed Amendments") the indenture (the "Indenture") governing the Issuers' 10.250% Senior Secured Notes due 2017 (the "Notes"), the requisite consents to adopt the Proposed Amendments.
The Company announced that consents had been delivered with respect to $272,158,000 of the Notes (representing approximately 78% of the outstanding aggregate principal amount of Notes as of February 4, 2013). In conjunction with receiving the requisite consents, the Issuers and The Bank of New York Mellon Trust Company, N.A., as trustee, executed a first supplemental indenture to the Indenture adopting the Proposed Amendments.
The Consent Solicitation is scheduled to expire at 5:00 p.m., New York City time, on February 5, 2013, unless extended or earlier terminated. The Consent Solicitation is being made in accordance with the terms and subject to the conditions stated in a Consent Solicitation Statement dated January 29, 2013, as amended by a Supplement No. 1 to Consent Solicitation Statement dated January 31, 2013 (the "Consent Solicitation Statement"), to holders of record at 5:00 p.m., New York City time, on January 28, 2013.
The Issuers have retained Credit Suisse Securities ( USA) LLC to act as Solicitation Agent in connection with the Consent Solicitation. Questions about the Consent Solicitation may be directed to Credit Suisse at (800) 820-1653 (toll free) or (212) 325-2476 (collect). Requests for copies of the Consent Solicitation Statement and related documents, and assistance relating to the procedures for delivering consents, may be obtained by contacting Global Bondholder Services Corporation, the Information and Tabulation Agent, at (866) 857-2200 (toll free).This press release is not a solicitation of consents, and no recommendation is made, or has been authorized to be made, as to whether or not holders of Notes should consent to the adoption of the Proposed Amendments pursuant to the Consent Solicitation. Each holder of Notes must make its own decision as to whether to give its consent to the Proposed Amendments. The Consent Solicitation is made only by the Consent Solicitation Statement. The Consent Solicitation is not being made to holders of Notes in any jurisdiction in which the making thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.
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