Fossil Group, Inc. announced the commencement of an exchange offer, consent solicitation, and rights offering for its senior notes.
The exchange offer involves offering 7.00% Senior Notes due 2026 for either First-Out Notes or Second-Out Notes with corresponding warrants.
The consent solicitation aims to seek holder consent for certain proposed amendments to the base indenture governing the old notes.
Concurrently, the company is launching a rights offering to holders of old notes.
Exchange Offer Details
Holders can exchange their Old Notes for either First-Out Notes with warrants or Second-Out Notes with warrants.
Consent Solicitation
Seeking holder consent for amendments to the base indenture governing the old notes.
Rights Offering
Launching a rights offering to holders of old notes alongside the exchange and consent solicitations.
- The exchange offer and consent solicitation aim to restructure the company's debt obligations.
- The rights offering provides an additional opportunity for holders to participate in the company's financial strategy.
The actions taken by Fossil Group indicate a strategic move to address its financial position and engage with its stakeholders through these offerings.