Advantica Completes Net Proceeds Offer For Senior Notes.SPARTANBURG, S.C.--(BUSINESS WIRE)--Oct. 5, 1998--Advantica Restaurant Group, Inc. (Nasdaq: DINE) today announced that it has completed a Net Proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). Offer for the purchase of up to $100 million of its $592 million outstanding issue of 11 1/4% Senior Notes due 2008. The Company today retired $42.4 million in Senior Notes which were tendered by an expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of August 31, but not withdrawn by the end of a 30-day withdrawal period ended September 30. The purchase price was 100% of the principal amount plus accrued and unpaid interest. The Net Proceeds Offer was made under terms of the Senior Notes 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. from net cash proceeds received from Advantica's sales of its Hardee's and Quincy's divisions earlier this year. Advantica Restaurant Group, Inc. is one of the largest restaurant companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , operating approximately 2,600 moderately-priced restaurants in the mid-scale and quick-service dining segments. Advantica owns and operates the Denny's, Carrows, Coco's and El Pollo Loco El Pollo Loco is a fast-food restaurant chain and Mexican grilled chicken franchise. "El Pollo Loco" is Spanish for "The Crazy Chicken". Juan Francisco Ochoa started the restaurant in Guasave, Mexico, in 1975. restaurant brands. Advantica news releases, links to SEC filings and other financial information are also available, at no charge, through Business Wire's Corporate News on the Net web site at: http://www.businesswire.com/cnn/dine.htm. |
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