Stater Bros. gets consents needed to amend 8 1/8% notes due 2012

By Angela McDaniels

Tacoma, Wash., Nov. 29 - Stater Bros. Holdings Inc. has received tenders and consents for $477,454,000 principal amount, or 91%, of its $525 million of 8 1/8% senior notes due 2012, according to a company news release.

The results are as of 5 p.m. ET on Nov. 26, which was the consent payment deadline in a tender offer and consent solicitation that began Nov. 12.

Stater is soliciting consents to amend the notes' indenture, which requires the consents of holders of at least a majority of the notes. This condition has been met.

All of the notes tendered by the consent payment deadline have been accepted and were purchased on Nov. 29.

Holders received $1,003.75 per $1,000 principal amount of notes, which includes a consent payment of $10.00 per note, plus accrued interest.

The offer remains open until 11:59 p.m. ET on Dec. 10.

Holders who tender after the consent payment date but prior to the offer expiration will receive $993.75 per $1,000 of notes plus interest.

The company will redeem any notes that remain outstanding following the completion of the offer.

Bank of America Merrill Lynch (888 292-0070 or 980 388-9217) is the dealer manager and solicitation agent. Global Bondholder Services Corp. (866 873-6300 or 212 430-3774) is the information agent.

Stater is a Colton, Calif., supermarket chain.

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