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DR. PEPPER BOTTLING COMPANY OF TEXAS ANNOUNCES EXTENSION OF TENDER OFFER AND SOLICITATION OF CONSENTS AND INCREASE IN CONSENT PAYMENT

 DALLAS, Jan. 26 /PRNewswire/ -- Dr. Pepper Bottling Company of Texas announced today that it has extended the expiration dates of (i) its pending tender offer for all its outstanding senior subordinated discount notes due 1998 to midnight, New York City time, on Feb. 8, 1993 and (ii) the related solicitation of consents from holders of its discount notes to proposed amendments to the indenture governing the discount notes to midnight, New York City time, on Feb. 5, 1993. The tender offer and consent solicitation, which commenced on Dec. 30, 1992, were originally scheduled to expire at midnight, New York City time, on Jan. 28, 1993, unless extended.
 The company is offering to purchase discount notes for a cash purchase price of $1,095 per $1,000 principal amount of discount notes. There has been no increase in the purchase price to be paid for the tender offer.
 The company is increasing the offered cash consent payments to $27.50 per $1,000 principal amount of discount notes as to which consents are delivered on or prior to the extended expiration date of the consent solicitation. The previously offered consent payment was $20.00 per $1,000 principal amount of discount notes as to which valid consents were delivered. As a result of the increase in the consent payment, holders who consent and tender their discount notes will receive aggregate cash payments of $1,122.50 per $1,000 principal amount of discount notes.
 The Dealer Manager for the tender offer and consent solicitation is Donaldson, Lufkin & Jenrette Securities Corporation.
 The tender offer and consent solicitation are part of a recapitalization plan being pursued by the company and its parent Dr. Pepper Bottling Holdings, Inc., to reduce the aggregate amount of interest expense and preferred stock dividend requirements.
 Dr. Pepper Bottling Company of Texas produces, markets and distributes carbonated soft drinks and markets and distributes other beverages within defined territories pursuant to franchise and distribution agreements. The company's three major franchise and distribution territories are Dallas/Fort Worth, Houston and Waco, Texas.
 -0- 1/26/93
 /CONTACT: C. Marvin Montgomery or Holly Lovvorn of Dr. Pepper Bottling Company of Texas, 214-579-1024, or Stanley J. Kay of MacKenzie Partners, Inc., 212-929-5940, for Dr. Paper Bottling Company of Texas/


CO: Dr Pepper Bottling Company of Texas ST: Texas IN: FOD SU:

LR-PS -- NY011 -- 8946 01/26/93 09:31 EST
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Publication:PR Newswire
Date:Jan 26, 1993
Words:397
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