Printer Friendly

DR PEPPER/SEVEN-UP COMPANIES ANNOUNCES AMENDMENT OF TENDER OFFERS

 DR PEPPER/SEVEN-UP COMPANIES ANNOUNCES AMENDMENT OF TENDER OFFERS
 DALLAS, June 12 /PRNewswire/ -- Dr Pepper/Seven-Up Companies, Inc. today announced that it has increased the tender price under its pending offer for Dr Pepper Company's 11-1/2 percent guaranteed senior secured notes due 1996 to $1,075.00 per $1,000 principal amount, plus accrued interest. If the tender conditions are satisfied, holders who validly tender Dr Pepper senior notes and consent to amend the indenture for the notes before the amendment is executed (or, if a majority does not tender, all tendering holders) will receive aggregate cash payments of $1,105.00 for each $1,000 principal amount, plus accrued interest.
 Dr Pepper/Seven-Up has also waived certain conditions under its pending offer and consent solicitation for the Dr Pepper senior notes and its pending offers for its 15-1/2 percent senior subordinated discount notes due 1998 and Dr Pepper Company's $1.375 senior exchangeable preferred stock.
 Dr Pepper/Seven-Up is now making the tender offers and the consent solicitation without the condition that a majority of Dr Pepper senior notes consent to the indenture amendment. Whether or not a majority consents, the company intends to satisfy and discharge the Dr Pepper senior note indenture upon consummation of the tender offers.
 Dr Pepper/Seven-Up also announced that it has extended the expiration date on each tender offer and the consent solicitation, to midnight, New York City time, on Thursday, June 25, 1992. Each of the offers and the consent solicitation, which originally commenced on April 29, 1992, was scheduled to expire at midnight, New York City time, on Friday, June 12, 1992 unless extended.
 As a result of the extensions, security holders will be entitled to tender their securities and deliver consents pursuant to the offers and consent solicitation until midnight, New York City time, on Thursday, June 25, 1992. Holders of Dr Pepper senior notes delivering consents after the amendment is executed will not be entitled to consent payments.
 As of June 11, 1992, approximately $319,832,000 aggregate principal amount of the 15-1/2 percent senior subordinated discount notes due 1998 had been tendered for purchase and not withdrawn. This includes approximately $175,000 aggregate prinicipal amount tendered pursuant to Notices of Guaranteed Delivery. Approximately $43,566,000 aggregate principal amount of the 11-1/2 percent guaranteed senior secured notes due 1996 had been tendered for purchase and not withdrawn. Approximately 3,583,402 shares of $1.375 senior exchangeable preferred stock had been tendered for purchase and not withdrawn.
 The company is distributing a supplement to its offer to purchase. Copies of the Supplement and other information regarding the offers and consent solicitation may be obtained from Georgeson & Company Inc., the company's information agent for the offers and the consent solicitation.
 -0- 6/12/92
 /CONTACT: Jim Ball, 214-360-7812, or Tom Bayer, 214-360-7817, both of Dr Pepper/Seven-Up/ CO: Dr Pepper/Seven-Up Companies Inc. ST: Texas IN: FOD SU:


TS -- NY010 -- 9539 06/12/92 08:59 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 12, 1992
Words:502
Previous Article:BURLINGTON RESPONDS TO COURT DECISION IN 1989 LAWSUIT
Next Article:LOGICON ANNOUNCES INCREASED QUARTERLY CASH DIVIDEND
Topics:


Related Articles
DR PEPPER/SEVEN-UP COMPANIES ANNOUNCES EXTENSIONS OF TENDER OFFERS
DR PEPPER/SEVEN-UP COMPANIES ANNOUNCES EXTENSIONS OF TENDER OFFERS
DR PEPPER/SEVEN-UP COMPANIES ANNOUNCES EXTENSIONS OF TENDER OFFERS
DR PEPPER/SEVEN-UP COMPANIES, ANNOUNCES EXTENSIONS OF TENDER OFFERS
DR PEPPER/SEVEN-UP COMPANIES, INC. ANNOUNCES WITHDRAWAL OF OFFER TO TAKE THE SOFT DRINK MAKER PUBLIC
DR PEPPER/SEVEN-UP COMPANIES FILES OFFERING; RECAPITALIZATION PLAN WILL RETIRE DEBT AND PREFERRED STOCK AND CREATE NEW SUBSIDIARY
DR PEPPER COMPANY ANNOUNCES EXTENSIONS OF TENDER OFFERS
DR PEPPER BOTTLING COMPANY OF TEXAS ANNOUNCES COMMENCEMENT OF TENDER OFFER AND SOLICITATION OF CONSENTS
DR PEPPER/CADBURY NORTH AMERICA, INC. COMMENCES TENDER OFFER AND CONSENT SOLICITATION
DR PEPPER/CADBURY NORTH AMERICA, INC. ANNOUNCES COMPLETION OF TENDER OFFER AND CONSENT SOLICITATION FOR 11-1/2 PERCENT SENIOR SUBORDINATED DISCOUNT...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters