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Good Sam Enterprises Purchasing 11.5% Notes

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July 2, 2012 by   Leave a Comment

Good Sam Enterprises LLC announced today (July 2) the commencement of an offer to purchase up to $4,950,000 in principal amount of the company’s outstanding 11.50% senior secured notes due 2016. The offer to purchase will expire on July 31, unless extended.

According to a news release, the offer to purchase is being made pursuant to the terms of the indenture governing the notes. The indenture requires the company to make an offer to purchase notes for the semi-annual period ended June 30, 2012, in an amount equal to $5.0 million.

In accordance with the indenture and subject to the terms and conditions of the offer to purchase, the company will pay a purchase price in cash equal to 101% of the principal amount of notes validly tendered (and not validly withdrawn) prior to the expiration date that are accepted, plus accrued but unpaid interest thereon to the settlement date for the offer to purchase.

If the aggregate principal amount of notes validly tendered in the offer to purchase exceeds the offer amount, notes will be accepted for purchase on a pro rata basis, such that the aggregate purchase price for the notes purchased does not exceed the offer amount. Tenders may be validly withdrawn no later than July 31.

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