Luminar Technologies said noteholders holding most of its 1L Notes and 2L Notes agreed to extend forbearance on defaults tied to missed October interest payments through November 12, as talks continue on a longer-term deal.
- New forbearance agreements signed Nov. 6 extend prior Nov. 6 deadline by six days
- Covers 91.3% of first-lien notes and 85.8% of second-lien notes
- Initial agreements, effective Oct. 30, followed missed Oct. 15 interest payments
- Extension includes payment of noteholders’ adviser fees
- All other material terms unchanged from initial agreements
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