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Duane Reade tenders for 9¼% notes
New York, May 3 - Duane Reade Inc. announced a tender offer for all its outstanding $80 million 9¼% senior subordinated notes due 2008.
The New York drug store is offering $1,070 per $1,000 principal amount for the notes. That figure includes a $20 consent payment for notes tendered before the consent deadline of 5.00 p.m. ET on May 17.
Duane Reade is seeking consents to modify the note indentures as part of the offer.
The tender expires at midnight ET on May 31 unless extended.
Goldman, Sachs & Co. is dealer manager for the offer, the information agent is Mellon Investor Services LLC and the depositary is Mellon Investor Services LLC.
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