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Article: Ziff Davis Media Wins Deal With Debt Holders; Company Receives Approval from Bondholders and Bank Lenders For Financial Restructuring.
- Article from:
- PR Newswire
- Article date:
- August 12, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Ziff Davis Media Inc. announced today that it successfully completed its exchange offer with its bondholders and is now planning to finish the related documentation and distribute proceeds for its financial restructuring plan within the next several days. As of August 9, 2002, holders of 95.1% of the aggregate face amount of its $250.0 million of 12.0% Senior Subordinated Notes due 2010 (the " Old Notes") formally accepted the terms of its out-of-court financial restructuring plan. In addition, the Company also announced that it has reached agreement with holders of 100.0% of the outstanding loans under its Senior Credit Facility regarding an amended and restated credit ...