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Midway Games Reaches Agreement With Other Half Of Its Debt Holders

by Rainier on Jan. 15, 2009 @ 5:28 p.m. PST

Last month Midway had reached a waiver and forbearance agreement with the holders of its $75 million principal amount of 7.125% Convertible Senior Notes due 2026. Today Midway filed with the SEC that it has successfully negotiated with holders of the other $75 million Convertible Senior Notes due 2025. Both have extended the date upon which the holders have the right to exercise their option to require Midway to repurchase the notes to February 12, 2009.
Last month Midway had reached a waiver and forbearance agreement with the holders of its $75 million principal amount of 7.125% Convertible Senior Notes due 2026. Today Midway filed with the SEC that it has successfully negotiated with holders of the other $75 million Convertible Senior Notes due 2025. Both have extended the date upon which the holders have the right to exercise their option to require Midway to repurchase the notes to February 12, 2009.