CNG Holdings, Inc. Announces Successful Completion of its Consent Solicitation

CINCINNATI, Aug. 8, 2013 /PRNewswire/ -- CNG Holdings, Inc. (the "Company") announced today the successful completion of its consent solicitation (the "Consent Solicitation") relating to its outstanding 9.375% Senior Secured Notes due 2020 (CUSIP Nos. 12612DAG1 and U17432AC6).  Launched on July 31, 2013, the purpose of the Consent Solicitation was to obtain the necessary consents to proposed amendments to the indenture pursuant to which the notes were issued (the "Proposed Amendments") in order to permit the Company and its subsidiaries, WhyNot Leasing, LLC and WhyNot Lease SPV LLC (the "WNLI Subsidiaries"), to enter into, deliver and perform their respective obligations under certain financing transactions which will provide the WNLI Subsidiaries with additional operating funds.  The Consent Solicitation expired at 5:00 p.m. (New York City time) on August 7, 2013. 

As of the expiration of the Consent Solicitation, the Company had received the consent of holders representing a majority in aggregate principal amount of the notes outstanding.  Therefore, the Proposed Amendments were approved.

The Company intends to settle the Consent Solicitation and execute a supplemental indenture as promptly as possible upon receipt of instructions from the information and tabulation agent.

D.F. King & Co., Inc. acted as the information and tabulation and Credit Suisse Securities (USA) LLC acted as solicitation agent in connection with the Consent Solicitation.

This press release is for informational purposes only and does not constitute a solicitation of consents of holders of the notes and shall not be deemed a solicitation of consents with respect to any other securities of the Company.

SOURCE CNG Holdings, Inc.