Welcome!

News Feed Item

Black Knight InfoServ, LLC, Formerly LPS, Announces Consent Solicitation for its 5.75% Senior Notes Due 2023

JACKSONVILLE, Fla., Jan. 28, 2014 /PRNewswire/ -- Black Knight InfoServ, LLC (formerly Lender Processing Services, Inc.), a wholly owned subsidiary of Black Knight Financial Services, and Black Knight Lending Solutions, Inc. (together, the "Issuers") today announced the solicitation of consents ("Consent Solicitation") from the holders of their 5.75% Senior Notes due 2023 (the "Notes") to certain proposed amendments to the indenture governing the Notes. Pursuant to the supplemental indenture entered on January 2, 2014, Fidelity National Financial, Inc., the indirect parent of the Issuers ("FNF") provided an unconditional, irrevocable guarantee of the Notes, and the Black Knight Lending Solutions, Inc. was added as a "co-issuer" of the Notes. In addition, on January 2, 2014, the Notes were rated as investment grade. As a result, a Covenant Suspension Event (as defined in the indenture) occurred, and most of the restrictive covenants in the indenture were suspended, which suspension remains in effect. The primary purpose of the Consent Solicitation and the proposed amendments is to modify the reporting requirement in the indenture to substitute reporting of FNF for that of the Issuers.

Full details of the terms and conditions of the Consent Solicitation are included in the Consent Solicitation Statement (the "Statement") and the accompanying Consent Letter dated January 28, 2014. 

Adoption of the proposed amendments requires the consent of the holders of at least a majority in aggregate principal amount of Notes outstanding (the "Required Consents"). The Consent Solicitation is being made solely to holders of record as of 5:00 p.m. on January 27, 2014 and on the terms and subject to the conditions set forth in the Statement.  The Consent Solicitation will expire at 5:00 p.m., New York time, on February 6, 2014, unless extended or terminated by the Issuers (the "Expiration Date").  Subject to receiving the Required Consents and other customary conditions, the Issuers have agreed to make a cash payment of $1.25 per $1,000 aggregate principal amount of Notes (the "Consent Payment") to any holder who validly delivers a duly executed consent prior to the Expiration Date that is not properly revoked.  Holders may revoke their consents at any time prior to the earlier of the Expiration Date and the time at which the Required Consents have been obtained.  The Consent Payment will be made to the paying agent promptly after the conditions to payment specified in the Statement have been satisfied or waived.  If the Consent Solicitation is withdrawn or otherwise not completed for any reason, the Consent Payment will not be paid or payable. 

The Issuers expect to execute a supplemental indenture effecting the proposed amendments if the Required Consents are obtained and the general conditions have been satisfied or waived.  The supplemental indenture would bind all holders of Notes, including those that did not give their consent, but holders who did not deliver consents prior to the Expiration Date (or delivered Consents but properly revoked them), would not receive the Consent Payment.

Copies of the Statement and other solicitation materials may be obtained from Jefferies LLC, the Solicitation Agent in connection with the Consent Solicitation, and any questions may be directed to the Solicitation Agent, by telephone at 1-877-877-0696 (toll free) or 1-212-284-2435 (collect).  Computershare Trust Company, N.A. is acting as the Tabulation Agent and Paying Agent, and Georgeson, Inc. is acting as the Information Agent, in connection with the Consent Solicitation.  Questions and requests for additional documents may be directed to the Information Agent in writing at Georgeson Inc., 480 Washington Boulevard, 26th Floor, Jersey City, NY 07310, Attention: Corporate Actions, by telephone at 1-866-729-6811 (toll free) or by facsimile at 201-222-4151.

This press release shall not constitute an offer to purchase or a solicitation of an offer to sell any securities.  The Consent Solicitation is not being made in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such solicitation under applicable state or securities laws. No recommendation is being made as to whether holders of Notes should consent to the proposed amendments.  The Consent Solicitation is being made only pursuant to the terms of the Statement and related materials, including the Consent Letter.  Holders of the Notes should read carefully the Statement and related materials, including the Consent Letter, as they contain important information.

About Black Knight Financial Services, LLC
Black Knight Financial Services, a Fidelity National Financial (NYSE:FNF) company, is the mortgage and finance industries' leading provider of integrated technology, data and analytics solutions. Comprised of technology offerings from the union of LPS and ServiceLink, Black Knight Financial Services offers leading software systems; data and analytics offerings; and information solutions that facilitate and automate many of the business processes across the mortgage life cycle.

Black Knight Financial Services helps clients in the mortgage industry and beyond achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the success of the solicitation, whether the supplemental indenture will be executed, the timing of the consent payments, and other information and statements that are not historical fact.  These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include the receipt and timing of necessary consents from holders, as well as other factors. These forward-looking statements speak only as of the date of this release. The Issuers expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in their expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

SOURCE Black Knight Financial Services

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.