ERAC Canada Finance Limited Completes Consent Solicitation

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ERAC Canada Finance Limited

24 Apr, 2012, 05:38 ET

TORONTO, April 24, 2012 /PRNewswire/ -- ERAC Canada Finance Limited (the "Issuer"), the wholly-owned Canadian finance subsidiary of Enterprise Holdings, Inc. ("Enterprise Holdings"), has completed its previously announced consent solicitation (the "Solicitation") to enter into a second supplemental indenture (the "Second Supplemental Indenture"), amending and supplementing the indenture dated as of March 1, 2001, between the Issuer, Enterprise Holdings, as guarantor, and Computershare Trust Company of Canada, as trustee, as amended and supplemented to date, with respect to $250 million outstanding aggregate principal amount of the series of its debt securities.

(Logo: http://photos.prnewswire.com/prnh/20120412/CG86494LOGO)

The Solicitation with respect to the $100 million aggregate principal amount of Series 06-2 5.70% Notes due February 26, 2021 (the "2021 Securities") expired pursuant to its terms without the requisite consents being obtained. Accordingly, the consent fee in respect of the 2021 Securities will not be paid to any holders of 2021 Securities and the amendments contemplated in the Second Supplemental Indenture will not be applicable to the 2021 Securities.

As announced on April 23, 2012, the Solicitation has been approved by the holders of record of a majority of the outstanding principal amount of the $150 million aggregate principal amount of Series 06-1 5.38% Notes due February 26, 2016 (the "2016 Securities"). Accordingly, the amendments contemplated in the Second Supplemental Indenture will apply to the 2016 Securities.

J.P. Morgan Securities LLC and RBC Dominion Securities Inc. served as the solicitation agents, Georgeson served as the information agent and Computershare Trust Company of Canada served as the tabulation agent for the Solicitation.

This announcement is not a solicitation of consents with respect to the Securities.

SOURCE ERAC Canada Finance Limited

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