INNOVATE Corp. launches indebtedness refinancing transactions

INNOVATE Corp. (VATE) intends to enter into a series of indebtedness refinancing transactions that will extend the Company’s debt maturities. The refinancing transactions include privately negotiated exchanges of certain of the Company’s convertible senior notes, an exchange offer and consent solicitation with respect to the Company’s senior secured notes, agreements in principle to extend the Company’s 2020 revolving credit agreement, an agreement in principle to amend and extend the Continental General Insurance Company note, an agreement in principle to extend the Spectrum Notes, and an agreement in principle to amend and extend the R2 Technologies note.