Printer Friendly

THE PENN TRAFFIC COMPANY ACCEPTS THE TENDER OF $30.3 MILLION OF ITS 13-1/2 PERCENT SUBORDINATED NOTES DUE 1998

 THE PENN TRAFFIC COMPANY ACCEPTS THE TENDER OF $30.3 MILLION
 OF ITS 13-1/2 PERCENT SUBORDINATED NOTES DUE 1998
 JOHNSTOWN, Pa., Oct. 14 /PRNewswire/ -- The Penn Traffic Company (AMEX: PNF) announced today that in response to its offer (the "offer") to purchase any and all of its outstanding 13-1/2 percent subordinated notes due 1998 (the "notes"), it has received $30,290,000 principal amount of the notes, out of a total of approximately $36.9 million principal amount outstanding.
 The offer, at a cash purchase price equal to $1,080 per $1,000 principal amount thereof, plus accrued and unpaid interest from June 15, 1992, through Oct. 13, 1992, expired at midnight, New York time, on Oct. 13, 1992. All notes properly tendered have been accepted for payment.
 The Penn Traffic Company also announced today that its subsidiary, Big Bear Stores Company, has purchased approximately $27.2 million principal amount of its outstanding debt securities. Such purchases included $12.0 million principal amount of Big Bear Stores Company's 12-3/4 percent senior notes due 1997 and $15.2 million principal amount of its 13-3/4 percent senior subordinated notes due 1999. The Penn Traffic Company may repurchase other of its outstanding debt securities from time to time.
 The Penn Traffic Company is one of the leading food retailers in the United States, operating 189 supermarkets in upstate New York, western Pennsylvania, central Ohio and northern West Virginia, under the names of P&C Foods, Quality Markets, Riverside Markets, Bi-Lo Foods, Big Bear and Big Bear Plus. Additionally, the company operates wholesale food distribution businesses serving 125 licensed franchises and 136 independent operators and a discount general merchandise business with 18 stores. Penn Traffic holds an indirect ownership interest representing approximately 17.8 percent of the common stock of Grand Union Holdings Corporation, the indirect parent of Grand Union. Grand Union operates 303 supermarkets and food stores under the Grand Union and Big Star trade names in the eastern United States.
 -0- 10/14/92
 /CONTACT: Gary D. Hirsch, chairman of the board of Penn Traffic Company, 212-370-0040/
 (PNF) CO: The Penn Traffic Company ST: Pennsylvania IN: REA SU:


CD-AM -- PG007 -- 9863 10/14/92 12:30 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:Oct 14, 1992
Words:369
Previous Article:PONTIAC POSTS 2-PERCENT SALES INCREASE FOR 1992 MODEL YEAR
Next Article:GENERAL DYNAMICS/THYSSEN HENSCHEL TEAM INTRODUCE AN IMPROVED NBC RECONNAISSANCE SYSTEM FOX VEHICLE AT AUSA ANNUAL MEETING
Topics:


Related Articles
THE PENN TRAFFIC COMPANY COMMENCES TENDER OFFER FOR ANY AND ALL OF ITS 12-3/4 PERCENT SUBORDINATED NOTES DUE 1997
SAFEWAY PLANS TO OFFER $250 MILLION OF SENIOR SUBORDINATED NOTES
THE PENN TRAFFIC COMPANY COMMENCES TENDER OFFER FOR ANY AND ALL OF ITS 13-1/2 PERCENT SUBORDINATED NOTES DUE 1998
THE PENN TRAFFIC COMPANY FILES A REGISTRATION STATEMENT RELATING TO A $100 MILLION SENIOR NOTE OFFERING
PENN TRAFFIC COMPANY FILES REGISTRATION STATEMENT
PENN TRAFFIC ANNOUNCES INCREASE IN SIZE OF PUBLIC OFFERING OF SENIOR SUBORDINATED NOTES DUE 2005
PENN TRAFFIC ANNOUNCES PRICING OF 2,000,000 SHARES OF COMMON STOCK AND $400,000,000 SENIOR SUBORDINATED NOTES
PENN TRAFFIC COMPANY ANNOUNCES EXPIRATION OF TENDER OFFERS
KASH N' KARRY FOOD STORES COMMENCES TENDER OFFER AND CONSENT SOLICITATION TO PURCHASE SUBORDINATED DEBENTURES
SMITTY'S SUPER VALU ANNOUNCES EXTENSION OF EXCHANGE OFFER

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