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Holloway gets OK to amend series B, C debentures

Holloway Lodging Corp. gained approval to amend its series B and C debentures at separate debenture holder meetings Aug. 9.

Series B and C holders will be given the option to exchange their respective debentures for a new series of debentures upon receiving Holloway's exchange notice.

Additionally, the maturity date of the series C debentures will be extended by three years to Sept. 30, 2021, and the conversion price will be changed to C$12.50 per common share.

The amendments will take effect once the first supplement to the second amended and restated trust indenture dated July 31, 2014, is signed by Holloway and Computershare Trust Co. of Canada, potentially later in August.