Affinity Group LLC is exchanging $330 million in senior secured notes issued last year by its predecessor company, Affinity Group Inc., with a new issue totaling the same amount due in 2016, according to a Securities and Exchange Commission filing.
On March 2, Affinity Group Inc. converted into a Delaware limited liability company called Affinity Group LLC, which became the obligor under the old notes and is the obligor under the exchange notes.
Affinity Group President and CEO Marcus Lemonis says this required SEC filing (see link below) essentially confirms transactions that occurred late last year. “We filed the registration for the notes that were sold last November,” Lemonis tells RVBUSINESS.com. “The AGI (re)financing was completed last November. This is a followup filing and registration process that happens any time any notes are sold in the marketplace.”
“It’s a post-closing requirement,” he added. “The company was refinanced last November; we’re not raising any new money.”
Lemonis, when asked, said this represents for his company basically good news. “It was good news three months ago,” he said.
Click here to read the entire filing.