TPI ENTERPRISES OFFERS CONVERTIBLE DEBENTURES
TPI ENTERPRISES OFFERS CONVERTIBLE DEBENTURES NEW YORK, July 22 /PRNewswire/ -- TPI Enterprises, Inc.
(NASDAQ-NMS: TPIE) announced the public offering of $45,000,000 aggregate principal amount of 8-1/4 percent convertible subordinated debentures due 2002 pursuant to an effective registration statement. The debentures will be guaranteed on a subordinated basis by TPI Restaurants, Inc., a wholly-owned subsidiary of TPI Enterprises, Inc.
Kidder Peabody & Co. Incorporated, Stephens Inc. and Morgan Keegan & Company, Inc. are acting as underwriters for the debt offering. The company has granted the underwriters an option to purchase up to an additional $6,750,000 aggregate principal amount of the debentures to cover any over-allotments. Proceeds of the offering, together with borrowings to be made under new credit facilities will be used to implement the company's previously announced refinancing plan. Copies of the prospectus relating to the offering may be obtained from the underwriters. TPI, one of the largest restaurants franchises in the United States, currently owns and operates 250 restaurants including 172 Shoney's and 68 Captain D's in nine southern states. -0- 7/22/92 /CONTACT: Joseph P. Gowan, executive vice president of TPI Enterprises, 212-230-2233/ (TPIE) CO: TPI Enterprises Inc. ST: New York IN: LEI SU:
SH-SM -- NY020 -- 1755 07/22/92 09:53 EDT
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|Date:||Jul 22, 1992|
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