Cardtronics holders tender $97.6 million 9¼% notes by Wednesday; remainder called at 102.313

By Susanna Moon

Chicago, Aug. 26 - Cardtronics, Inc. said investors had tendered $97.6 million of the outstanding $200 million principal amount of 9¼% senior subordinated notes due 2013 as of 5 p.m. ET on Aug. 25, the consent expiration.

The company also announced that it would redeem the outstanding 9¼% notes on Sept. 27 at 102.313% of par plus accrued interest to the redemption date.

The redemption will be funded by proceeds from the company's public offering of $200 million of 8¼% senior subordinated notes due 2018, which closed on Thursday.

The company was soliciting consents to amend the note indenture.

The offer is scheduled to expire at 11:59 p.m. ET on Sept. 9. The offer began on Aug. 12.

Cardtronics will pay $1,025.63 for each $1,000 principal amount, including a $25.00 premium for notes tendered by the consent deadline.

Tendered notes may be withdrawn and consents may not be revoked after 5 p.m. ET on Aug. 25.

The offer required receiving the needed consents to amend the notes, the execution of a supplemental indenture and completion of debt financing with proceeds sufficient to help fund the tender.

Funding for the offer also will come from cash on hand and loans available under the company's revolving credit facility.

D.F. King & Co., Inc. (800 431-9643 or banks and brokers 212 269-5550) is the depositary and information agent. Bank of America Merrill Lynch (888 292-0070 and collect 980 388-9217) is the dealer manager and solicitation agent.

Cardtronics is a Houston-based non-bank operator of ATMs.

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