Comdex Producer Misses Payment

  • December 18, 2002
Is Comdex in trouble? Key3Media Group, Inc. who produces the leading computer and software trade show as well as other IT based events, confirmed that it did not pay the semi-annual interest payment due today on its 11.25% senior subordinated notes due 2011. “The Company has a 30-day cure period before this non-payment can be declared an event of default under the notes; however, there is a substantial risk that the Company will be unable to make the payment during this period. If the non-payment is not cured within this 30-day period it would also constitute an event of default under the Company's senior bank revolving credit facility. The Company is in discussions with certain of its creditors regarding these matters,” it said.
Next story loading loading..