Novell Announces Successful Completion of Consent Solicitation
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WALTHAM, Mass. -- Nov. 10, 2006 -- Novell, Inc. (NASDAQ: NOVL) today announced the successful completion of its previously announced consent solicitation with respect to certain amendments to, and a waiver of rights to pursue remedies available with respect to certain alleged defaults under, the provisions of the indenture, dated July 2, 2004 (the "Indenture"), governing its 0.50% convertible senior debentures due 2024 (CUSIP Nos. 670006AB1 and 670006AC9) (collectively, the "Debentures"). As of the expiration of the consent solicitation at 5:00 p.m., New York City time, on November 9, 2006, Novell had received the consents from the holders in excess of a majority of the outstanding aggregate principal amount of the Debentures.
Novell and Wells Fargo Bank, National Association, the trustee under the Indenture, are entering into a first supplemental indenture implementing the proposed amendments described in the consent solicitation statement dated October 17, 2006, as amended and supplemented on October 31, 2006 and November 7, 2006 (the "Consent Solicitation Statement"). The amendments will be binding on all debentureholders, including non-consenting debentureholders.
Under the terms of the Consent Solicitation Statement, Novell will pay an additional 7.33% per annum (payable semi-annually) in special interest on the Debentures from and after November 9, 2006 to, but excluding, November 9, 2007. Payments of the special interest will be made along with the regular interest payments to debentureholders entitled to such regular interest payments.
Citigroup Corporate and Investment Banking served as the solicitation agent for the consent solicitation. Questions regarding the consent solicitation may be directed to Citigroup Corporate and Investment Banking at (800) 558-3745 (toll-free) or (212) 723-6106. The information agent for the consent solicitation was Global Bondholder Services Corporation.
About Novell
Novell, Inc. delivers Software for the Open Enterprise(TM). With more than 50,000 customers in 43 countries, Novell helps customers manage, simplify, secure and integrate their technology environments by leveraging best-of-breed, open standards-based software. With more than 20 years of experience, 4,700 employees, 5,000 partners and support centers around the world, Novell helps customers gain control over their IT operating environments while reducing costs. More information about Novell can be found at www.novell.com.
Press Contact
Bruce Lowry
Novell, Inc.
415-383-8408
blowry@novell.com
Investor Relations Contact
Bill Smith
Novell, Inc.
800-317-3195
wsmith@novell.com
