Advantica Issues Final Extension of Exchange Offer for FRD Notes.SPARTANBURG, S.C.--(BUSINESS WIRE)--Dec. 14, 1998--Advantica Restaurant Group, Inc. (Nasdaq: DINE) today announced that it is issuing its final extension of its previously announced offer to exchange, for each $1,000 principal amount of 12 1/2% Senior Notes Due 2004 of its wholly-owned subsidiary, FRD FRD Ford (street type) FRD Federal Research Division FRD Free Radical Design (game developer) FRD Formerly Restricted Data FRD Foundation for Research Development FRD Functional Requirements Document Acquisition Co. (the "FRD Notes"), cash or Advantica's 11 1/4% Senior Notes Due 2008 or a combination thereof (the "Offer"), to 5:00 p.m. Eastern Time, Tuesday, December 15, 1998. The accompanying 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 of consents by FRD Acquisition Co. to amend 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 gov·ern v. gov·erned, gov·ern·ing, gov·erns v.tr. 1. To make and administer the public policy and affairs of; exercise sovereign authority in. 2. the FRD Notes is extended correspondingly. The Offer will not be extended further. The Offer was originally scheduled to expire as of 5:00 p.m. Eastern Time, Friday, December 11, 1998, and was initially extended to 5:00 p.m. Eastern Time, Monday, December 14, 1998. The Exchange Agent reports that approximately $21 million aggregate principal amount of the FRD Notes have been tendered to date. Among other conditions, the Offer is conditioned upon the valid tender of at least a majority of the $156,897,000 principal amount of the FRD Notes outstanding. 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion