RadioShack tenders, solicits consents for 7 3/8% notes due 2011

By Jennifer Chiou

New York, Aug. 28 - RadioShack Corp. announced the start of a cash tender offer for any and all of its $350 million of 7 3/8% notes due 2011.

The company is also soliciting consents to amend the indenture to, among other things, eliminate substantially all of the restrictive covenants and certain events of default.

The offer ends at 8:30 a.m. ET on Sept. 28.

The consent deadline is 5 p.m. ET on Sept. 11.

For each $1,000 principal amount, RadioShack said it will pay $1,050, which includes a $30.00 consent payment to those who tender by the early deadline.

The company is seeking consent from holders of a majority of notes.

Citi (800 558-3745), Bank of America Merrill Lynch (888 292-0070 or call collect 980 388-9217) and Wells Fargo Securities (866 309-6316 or call collect 704 715-8341) are the lead dealer managers. Morgan Keegan & Co., Inc. and PNC Capital Markets LLC are the co-dealer managers. Global Bondholder Services Corp. is the information agent and the depositary (866 807-2200 or call collect 212 430-3774).

Based in Forth Worth, Texas, RadioShack is a consumer electronics goods and services retailer.

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