Elliott Issues Truvo Subsidiary Corp. StatementBy Elliott Associates L.p., PRNE
Wednesday, March 24, 2010
Euro 395,000,000 8.50% Senior Notes due 2014 (ISIN XS 0206614702 and XS 0206615428) and US$200,000,000 8.375% Senior Notes due 2014 (ISIN US 92926TAA25 and USU 94285AA83) (the "Notes") issued by WDAC Subsidiary Corp. (now Truvo Subsidiary Corp. ("Truvo"))
NEW YORK, March 25, 2010 - Elliott Associates, L.P. (together with funds under common management),
today issued the following statement regarding Truvo Subsidiary Corp.
"Elliott welcomes the announcement by Truvo that it has obtained consent
under the Senior Facilities Agreement to commence debt restructuring
negotiations with holders of the Notes."
Elliott holds 32% of the Notes and also holds a significant position in
Truvo's Senior loans and is a significant holder of credit default swap
protection referencing Truvo Subsidiary Corp. Elliott's positions in Truvo
are subject to change without notice.
Elliott's two funds, Elliott Associates, L.P. and Elliott International,
L.P., together have more than US$16 billion of assets under management. The
funds' investors include institutions, foundations, endowments, pensions,
high net worth individuals, and family offices. The 33-year-old trading firm
is one of the oldest of its kind under continuous management.
Scott Tagliarino, +1-212-974-6000, +1-917-922-2364 (cell)
Tags: Elliott Associates L.p., March 25, New York, Western Europe