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Cardtronics tenders, seeks consents for $179 million 8¼% 2018 notes
By Susanna Moon
Chicago, July 14 – Cardtronics, Inc. said it began a cash tender offer for its $179,442,000 principal amount of outstanding 8¼% senior subordinated notes due 2018.
The company also is soliciting consents to amend the notes indenture.
The tender offer will end at 11:59 p.m. ET on Aug. 8.
The total purchase price will be $1,046.25 for each $1,000 principal amount of notes tendered by 5 p.m. ET on July 25, the consent deadline.
The total amount includes a consent payment of $30.00 per $1,000 principal amount.
Holders who tender their notes after the consent date will receive base payment of $1,016.25 for each $1,000 principal amount.
The company also will pay accrued interest to but excluding the settlement date, which will be July 28 for early tendered notes and Aug. 11 for the remaining tenders.
Tendered notes may be withdrawn by the early tender deadline.
Holders may not tender their notes without delivering consents or deliver consents without tendering their notes.
The tender offer is conditioned on the company receiving consents from holders of a majority of the outstanding notes, the execution of a supplemental indenture effecting the proposed amendments and completion of a capital markets debt financing.
Cardtronics plans to price a $250 million offering of eight-year senior notes on July 14 trailing a late-morning conference call with investors, as reported by Prospect News.
D.F. King & Co., Inc. (800 829-6551 or banks and brokers call 212 269-5550 collect, or e-mail cardtronics@dfking.com) is the depositary and information agent.
BofA Merrill Lynch (888 292-0070 or 980 388-3646 collect) is the exclusive dealer manager and solicitation agent.
The issuer is a Houston-based global ATM owner and operator.
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