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 TAMPA, Fla., Aug. 2 /PRNewswire/ -- Kash n' Karry Food Stores, Inc. announced today that it has extended the expiration date of the tender offer for its outstanding 14 percent subordinated debentures due 2001 to midnight New York City time on Aug. 3, 1993, from July 30, 1993.
 As previously announced, under the terms of the tender offer, Kash n' Karry is offering to purchase the 14 percent debentures at a price equal to 109.25 percent of the principal amount of each tendered debenture plus accrued interest. In addition, in a concurrent consent solicitation, the company is offering to pay holders a cash payment equal to 1.0 percent of the principal amount of 14 percent debentures for which a validly delivered and unrevoked consent has been received prior to the consent date described below.
 As of July 30, 1993, approximately $74,929,000 principal amount of 14 percent debentures and accompanying consents had been tendered, which constitute the requisite consents. As a result, it is anticipated that the consent date will occur on the expiration date of the tender offer unless the tender offer is again extended, in which case the consent date could occur at a date no later than on or about 5:30 p.m. New York City time on Aug. 5, 1993. In accordance with the terms of the consent solicitation, a holder of the 14 percent debentures must validly consent prior to the consent date in order to receive the cash payment in connection with the consent solicitation of 1.0 percent of the principal amount of 14 percent debentures validly tendered by such holder.
 Kash n' Karry also announced that it has revised the solicitation of consents to amend the indenture under which the 14 percent debentures were issued. The consent solicitation has been revised to eliminate from the proposed amendments for which consents are being sought a provision unnecessary for Kash n' Karry's proposed debt refinancing.
 The dealer managers for the tender offer and the consent solicitation are Salomon Brothers Inc and Merrill Lynch & Co. Information concerning the tender offer and consent solicitation can be obtained by calling the Information Agent, D.F. King & Co., Inc. toll free at 800-669-5550.
 Kash n' Karry is the third largest food retailer in West Central Florida.
 -0- 8/2/93
 /CONTACT: Raymond P. Springer, 813-621-0200 of Kash n' Karry, or John L. Bibas of D.F. King & Co., Inc., 212-269-5550, for Kash n' Karry/

CO: Kash n' Karry Food Stores, Inc. ST: Florida IN: REA SU: OFR

SH-LG -- NY020 -- 8235 08/02/93 09:35 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
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