Examples of Original Senior Notes in a sentence
Pursuant to the Exchange Offer, $439.6 million in the aggregate principal amount of the Original Senior Notes (which amount was equal to approximately 83% of the then-outstanding Original Senior Notes) was exchanged for $439.6 million aggregate principal amount of Exchange Offer Senior Notes.
Interest on the Original Senior Notes is payable semi-annually in cash on April 1 and October 1 of each year.
On March 31, 2008, Spinco issued the Original Senior Notes in the aggregate principal amount of $551 million, which have a maturity date of April 1, 2018 and are not redeemable at FairPoint’s option prior to April 1, 2013.
In addition, pursuant to the terms of the Exchange Offer, an additional $18.9 million aggregate principal amount of Exchange Offer Senior Notes was issued to holders who tendered their Original Senior Notes in the Exchange Offer as payment for accrued and unpaid interest on the exchanged Original Senior Notes up to, but not including, the Settlement Date.
Because the Original Senior Notes were issued at a discount on the date of their distribution, the Original Senior Notes had a carrying value on such date of $539.8 million (principal amount at maturity of $551 million less a discount of $11.2 million).