A&P Tenders for Any and All of Its Outstanding 7.70% Senior Notes Due 2004.Business Editors MONTVALE, N.J.--(BUSINESS WIRE)--Nov. 19, 2001 The Great Atlantic & Pacific Tea Company, Inc. (NYSE NYSE See: New York Stock Exchange :GAP) today commenced a tender offer for any and all of its outstanding 7.70% Senior Notes due 2004. In conjunction with the tender offer, A&P also commenced a consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with to eliminate certain events of default and certain covenants in the indenture An agreement declaring the benefits and obligations of two or more parties, often applicable in the context of Bankruptcy and bond trading. The term indenture primarily describes secured contracts and has several applications in U.S. law. governing the notes as they relate to the notes. Under the terms of the tender offer and the consent solicitation, A&P will purchase for cash tendered notes at a purchase price for each $1,000 principal amount of tendered notes equal to $1,045.00 plus accrued and unpaid interest on such principal amount to the payment date. The purchase price includes a consent payment of $30.00 for each $1,000 principal amount of tendered notes that will be paid only for notes tendered prior to the consent date, which will be 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on December 3, 2001, unless extended. Holders that tender notes after the consent date will not be paid the consent payment. The tender offer will expire at 11:59 p.m., New York City time, on December 17, 2001, unless extended. Payment for tendered notes will be made promptly after the expiration of the tender offer if the notes are accepted for purchase. Consummation of the tender offer, and payment for tendered notes, is subject to the satisfaction or waiver of various conditions, including the condition that there be validly tendered and not validly withdrawn at least 80% of the outstanding aggregate principal amount of the notes. The Company intends to issue new debt to obtain the funds necessary to purchase the notes tendered. Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. Inc. is acting as the sole Dealer Manager and Solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual Agent for the tender offer and the consent solicitation. The Information Agent is D.F. King & Co., Inc. and the Depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. is JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1. Bank. This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. The tender offer and the consent solicitation are being made only by reference to the Offer to Purchase and Consent Solicitation Statement dated November 19, 2001. Requests for documentation should be directed to D.F. King & Co., Inc. at (800) 769-4414. Questions regarding the tender offer and the consent solicitation should be directed to Scott Macklin at Lehman Brothers Inc. at (212) 455-3301 or collect at (212) 681-2265. |
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