(Bloomberg) -- Tyco International Ltd., the maker of
ADT security systems, said it took away the right of bondholders
to approve its breakup plan after investors tendered only about
a third of their debt securities.
Some $1.46 billion of the $4.60 billion of bonds governed
by a June 9, 1998, indenture were tendered, and $331.8 million
of $1 billion of notes governed by a separate indenture were
tendered, Bermuda-based Tyco said in a press release today.
Read more at Bloomberg Bonds News
ADT security systems, said it took away the right of bondholders
to approve its breakup plan after investors tendered only about
a third of their debt securities.
Some $1.46 billion of the $4.60 billion of bonds governed
by a June 9, 1998, indenture were tendered, and $331.8 million
of $1 billion of notes governed by a separate indenture were
tendered, Bermuda-based Tyco said in a press release today.
Read more at Bloomberg Bonds News
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