Regal to redeem any 9 1/8% notes, 8 5/8% notes not tendered in offer

By Tali Rackner

Norfolk, Va., March 12 - Regal Entertainment Group plans to redeem all of its 9 1/8 senior notes due 2018 and all of Regal Cinemas Corp.'s 8 5/8% senior notes due 2019 following the completion of its tender offers, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at par plus a make-whole premium and accrued interest on April 10.

The company had received tenders and consents for $222.27 million, or 71.4%, of its 9 1/8% notes and $355,815,000, or 89%, of the 8 5/8% notes as of 5 p.m. ET March 10, the early tender date.

As previously reported, the total purchase price per $1,000 principal amount will be $1,081.97 for the 9 1/8% notes and $1,070.73 for the 8 5/8% notes. The total amount includes an early tender payment of $30.00 per $1,000 of notes.

Those who tender after the early deadline will receive the total payment less the early premium.

The tender offer will end at 12:01 a.m. ET on March 25.

The offers are conditioned on completing financing.

Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2476 collect), Barclays (800 438-3242 or 212 528-7581 collect), BofA Merrill Lynch (888 292-0070 or 980 387-3907 collect), Deutsche Bank Securities Inc. (866 627-0391 or 212 250-2955 collect) and Wells Fargo Securities, LLC (866 309-6316 or 704 410-4760 collect) are the dealer managers. D.F. King & Co., Inc. (212 269-5550 for banks and brokers only or 800 431-9633) is the information agent.

Regal is a Knoxville, Tenn.-based motion picture exhibitor.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.