Ascent Capital starts tender offer for 4.00% notes, exchange offer for MONI notes
Aug. 31, 2018 7:32 AM ET|About: Ascent Capital Group, Inc. (ASCMA)|By: Liz Kiesche, SA News Editor
Ascent Capital (NASDAQ:ASCMA) starts a tender offer for 4.00% convertible senior notes due 2020 and an exchange offer for its notes issued by its MONI subsidiary.
The company will pay up to $63M for the 4.00% notes; it offers to pay $595.00 per $1,000 principal amount and $50.00 per $1,000 for early tender.
Ascent has $96.8M of 4.00% convertible notes outstanding.
Concurrently, Ascent and its MONI subsidiary are offering for 9.125% MONI senior notes due 2020: up to $100M in cash and/or a combination of $585M of MONI 7.750%/3.750% senior unsecured cashpay/PIK notes due 2023 and warrants to buy up to 1.24M shares of ASCMA series A common stock.
