Ad Hoc Committee of EOP Noteholders Announces Distribution of "No Consent" Agreement.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. The Ad Hoc Committee has learned that EOP has made incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. modifications to the tender offer and consent solicitation with respect to the 4.65% Notes due 2010 and 4.75% Notes due 2014. However, 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 still not receive their full contractual entitlements. Accordingly, the Ad Hoc Committee remains actively opposed to the tender offer and consent solicitation. The Ad Hoc Committee held a call on January 2, 2007 for holders of notes issued under the 1997 Indenture and the 2000 Indenture. The Digital Tape Replay of the call is available as follows: Dial-In: 1 (888) 843-8996 Passcode: 16660501# Following the January 2 call a form of "No Consent" Agreement was circulated to more than 60 interested holders. In addition certain members of the Ad Hoc Committee have indicated a willingness to speak with other noteholders on an individual basis. Their contact details and a copy of the "No Consent" Agreement can be obtained by contacting Andrew Rosenberg (arosenberg@paulweiss.com), Margaret Phillips (mphillips@paulweiss.com) or Elizabeth McColm (emccolm@paulweiss.com) (telephone - 212-373-3000). The deadline for execution and return of the "No Consent" Agreement is Friday, January 5, 2007 at 9:00 a.m. (Eastern) and will not become effective as to any noteholder until receipt of signed agreements from holders of a majority of the principal amount of notes under the relevant indenture. The early tender deadline is scheduled for 5:00 p.m. January 9, 2007. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion