Reddy Ice extends expiration, ups payment for 10½% senior notes' consent solicitation

By Jennifer Chiou

New York, July 25 - Reddy Ice Holdings, Inc. said it is amending its already announced consent solicitation for its $151 million principal amount at maturity of 10½% senior discount notes due 2012, extending the expiration to 5 p.m. ET on July 28, unless extended, from 5 p.m. ET on July 26.

The Dallas packaged ice distributor also increased the amount payable to noteholders to $12.50 in cash for each $1,000 accreted value of the notes from $5.00 per $1,000 of notes.

As of July 19, the accreted value of the notes was $714.62 per $1,000 principal amount at maturity.

The offer is conditioned upon a majority of notes being validly tendered and completion of the initial public offering the company has proposed.

Morrow & Co., Inc. is the information agent (800 654-2468 or call collect 212 754-8000).

Bear, Stearns & Co. Inc. is the solicitation agent (877 696-2327).

Reddy Ice issued $151 million of the discount notes, priced Oct. 19, 2004, for proceeds of $100.16 million.

On July 18, the company again extended the expiration of its tender offer for its $152 million 8 7/8% senior subordinated notes due 2011 to Aug. 12 from July 15.

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