What treatment will bondholders receive under the Plan of Reorganization?
The Plan of Reorganization provides for the cancellation of all of the Company’s old bond obligations (including the 7.375%, 8.5% and variable rate PIK notes). Holders of any of these notes will be issued their pro rata share of both: (a) A new approximately $218 million bond obligation, which is equal to 20% of the allowed claims on the old bonds. Distribution of this new note is as follows: Description CUSIP Notes per $1000 principal 8.5% Sr. Subordinated Notes due 2013 755081 AD8 205.713889 7.375% Sr. Subordinated Notes due 2015 84762L AA3 207.415973 Variable Rate PIK Toggle Sr. Subordinated Notes due 2013 84762L AB1 208.333333 (b) and their pro rata share of 27,030,000 million shares of new common stock to be distributed as follows: Description CUSIP Shares of new stock per $1000 principal 8.5% Sr. Subordinated Notes due 2013 755081 AD8 25.497698 7.375% Sr. Subordinated Notes due 2015 84762L AA3 25.708667 Variable Rate PIK Toggle Sr. Subordinated Notes due 2013 84762L AB1 25.822372
