Lindblad Expeditions Holdings, Inc. announced the early results of a cash tender offer and consent solicitation for their 6.750% Senior Secured Notes due 2027.
The Issuer is seeking to purchase any and all outstanding Notes and soliciting consents for proposed amendments to the indenture governing the Notes.
Approximately $263.3 million aggregate principal amount of the Notes were tendered and not withdrawn by the Early Tender Deadline.
Early Tender Results
$263.3 million aggregate principal amount of Notes tendered, representing 73.1% of outstanding Notes.
Proposed Amendments
Elimination of restrictive covenants, events of default, and release of Notes as secured debt under collateral trust agreement.
Tender Offer Details
Issuer to pay Total Consideration including Early Tender Payment to holders who tendered before Early Tender Deadline.
- The Issuer received the Covenant Requisite Consent for proposed amendments to the indenture governing the Notes.
- The Collateral Release Requisite Consent was not received by the Early Tender Deadline.
The early results show significant participation in the tender offer and consent solicitation, indicating investor interest in the proposed amendments and future debt structure changes.