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Goodpack fails to get waiver for Series 6 notes
Hitch not expected to disrupt acquisition by KKR
Add BT as a preferred sourcePublished Wed, Jul 9, 2014 · 10:00 PM
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LOCAL logistics packaging company Goodpack has succeeded in having the holders of all but one of its bonds agree to waiving certain conditions that would be non-compliant as a result of the acquisition by KKR.
Goodpack has had six series of notes under its $600 million multi-currency medium-term note programme established on June 18, 2010.
The proposed takeover bid by private equity firm KKR would have made some of the conditions in the notes non-compliant, as well as given rise to the occurrence of potential default events.
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