The Pantry Announces Final Results of Tender Offer
CARY, N.C. -- No new tenders were made following The Pantry Inc.'s early tender deadline and prior to the expiration date of its 7.75-percent yielding senior subordinated notes, the company announced today.
However, as CSNews Online reported earlier, nearly $200 million worth of the notes were tendered before Aug. 3, the early tender deadline. Those who tendered early received $1003.75 per $1,000 in notes owned.
According to The Pantry, note holders can still tender their notes now, but will only receive $993.75 per $1,000 in principal amount of the notes.
The Pantry, parent of Kangaroo Express convenience stores, stated in a news release that $21.724 million worth of notes remain outstanding. The company added it will redeem any of the remaining outstanding notes on Sept. 4. The Pantry Inc. operates 1,587 convenience stores that are primarily located in the Southeast.