KnowledgeFunding Ohio Announces Successful Completion of Consent Solicitation

Mar 02, 2011, 17:24 ET from KnowledgeFunding Ohio, Inc.

CINCINNATI, March 2, 2011 /PRNewswire/ -- KnowledgeFunding Ohio, Inc. (the "Corporation") announced today that it has obtained the requisite consents from the holders of the following series of its outstanding student loan revenue bonds: Senior Series 2005A1 Bonds, Senior Series 2005A2 Bonds, Senior Series 2005A3 Bonds, and Subordinate Series 2005C1 Bonds, all issued on December 21, 2005 and Senior Series 2006A1 Bonds, Senior Series 2006A2 Bonds, Senior Series 2006 A3 Bonds, and Subordinate Series 2006C1 Bonds, all issued on December 20, 2006 (collectively, the "Bonds") to approve the proposed amendments to the indenture governing the Bonds pursuant to its previously announced consent solicitation.

The Corporation received the consents of the holders of at least a majority in aggregate principal amount of the Bonds under the indenture, including the consents of holders of at least a majority in aggregate principal amount of the Senior series of Bonds.

The consent solicitation expired at 5:00 p.m., New York City time, on Tuesday, March 1, 2011.

In accordance with the terms of the consent solicitation, upon the execution and delivery of the fourth supplemental indenture to the indenture by the Corporation and the trustee for the Bonds, notice of the effectiveness of the fourth supplemental indenture will be mailed to holders of the Bonds.

For a complete statement of the terms and conditions of the consent solicitation and the amendments to the indenture, holders of the Bonds should refer to the Consent Solicitation Statement dated February 11, 2011, which was previously sent to all holders of the Bonds.

About KnowledgeFunding Ohio, Inc.

KnowledgeFunding Ohio, Inc. is an Ohio nonprofit corporation and an affiliate of KnowledgeWorks Foundation, an Ohio private nonprofit corporation whose purpose is to assist individuals in obtaining an education.  KnowledgeFunding Ohio is organized and operated exclusively for the charitable and educational purposes of acquiring student loans incurred under the Higher Education Act, as amended.  KnowledgeFunding Ohio has been requested by the State of Ohio to be organized and authorized to issue "qualified scholarship funding bonds" pursuant to Section 150(d) of the Internal Revenue Code, as amended.

SOURCE KnowledgeFunding Ohio, Inc.