FTI Consulting offers to buy back senior notes due 2013, proposes changes to debt agreement

By AP
Tuesday, September 14, 2010

FTI Consulting offers to buy back notes

WEST PALM BEACH, Fla. — FTI Consulting Inc., an international business advisory firm, said Tuesday it is buying back certain senior notes and proposing amendments to the indenture.

FTI said it will repurchase its 7 5/8 percent senior notes due in 2013. For every $1,000 of notes tendered by Sept. 27, FTI said it will pay $1,021.56. The overall tender offer expires Oct. 12.

The company said the proposed amendments to the indenture — which is among FTI, guarantors and the Wilmington Trust Co. — would eliminate restrictive covenants in the indenture.

Holders of at least a majority of the principal amount of the notes must consent to the amendments.

Banc of America Securities LLC is running the offer to buy debt and the consent solicitation, FTI said.

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