Ad Hoc Committee of EOP Noteholders Announces Blocking Position.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The following is a statement issued by the Ad Hoc Committee ad hoc committee A committee formed with the purpose of addressing a specific issue or issues, which theoretically is disbanded once its raison d'etre is finished of Unsecured Noteholders of Equity Office Properties Trust Equity Office Properties Trust, headquartered in Chicago, Illinois, is the largest owner of office buildings in the United States. It was formed in 1976 by Samuel Zell [1] and in February 2007, was acquired by the Blackstone Group for $23 billion plus the assumption of ("EOP EOP Educational Opportunity Program (California State University) EOP Executive Office of the President EOP Equity Office Properties Trust (ticker) EOP Emergency Operations Plan EOP Earth Orientation Parameters "). The Ad Hoc Committee was formed in opposition to the tender offer and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with announced on December 26, 2006 by EOP's subsidiary EOP Operating Limited Partnership. As previously disclosed, the terms of the tender offer and consent solicitation are such that holders of the 7.25% Notes due 2028, 7.5% Notes due 2029 and 7.875% Notes due 2031 will not receive their full contractual entitlements. Accordingly, the Ad Hoc Committee has actively opposed the tender offer and consent solicitation. The Ad Hoc Committee distributed a form of "No Consent" Agreement to more than 80 interested holders. The Ad Hoc Committee has now received executed "No Consent"agreements from the holders of the majority amount of notes of outstanding principal amounts under each of the 1997 Indenture and 2000 Indenture. Accordingly, such "No Consent" Agreements became effective with respect to all of such holders, and therefore, such holders have agreed to not tender the notes subject to the executed agreements under the current tender offer and consent solicitation. |
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