Senvion second consent solicitation

All,

Regarding Senvion Consent Solicitation:

Again, as per the first consent solicitation, this is a formality as the majority of the bonds is already controlled by the Ad Hoc group. 

That said, it is an important consent to deliver to the administrators, to allow the company to take up the needed financing under court supervision. 

Thus as a matter of good bondholdership we might want to send in our consent. The deadline is Thursday close of business.

Again, we are not and we would not be long this bond. The wall of financing required is prohibitive, the process is now court controlled and the likelihood that a deal will be structured to hand any meaningful amount of equity to the bondholders is low. Equity will likely travel to those injecting fresh cash (quite possible bondholders). But there seems to be a good chance that smaller holders outside the ad-hoc group will not need to be invited for a pro rata share.

Wolfgang