Ingles Markets, Incorporated Announces Final Results of Tender Offer and Consent Solicitation
Ingles Markets, Incorporated (NASDAQ: IMKTA) ("Ingles" or the "Company")
today announced the final results of its previously announced tender
offer and consent solicitation (the “Offer”) for its Senior Notes due
2017 (the “Notes”) (CUSIP No. 457030AG9). The Offer expired at
11:59 p.m., New York City time, on June 25, 2013 (the “Expiration Date”).
As of the Expiration Date, tenders and consents had been received from
holders of $448.3 million in aggregate principal amount, representing
approximately 78%, of the outstanding Notes. The Company has elected to
redeem the remaining outstanding Notes on July 1, 2013, at a redemption
price of 104.438%.
This press release is neither an offer to purchase nor a solicitation of
an offer to sell the Notes.
Ingles Markets, Incorporated is a leading supermarket chain with
operations in six southeastern states. Headquartered in Asheville, North
Carolina, the Company operates 204 supermarkets. In conjunction with
its supermarket operations, the Company operates neighborhood shopping
centers, most of which contain an Ingles supermarket. The Company also
owns a fluid dairy facility that supplies Company supermarkets
and unaffiliated customers. The Company's Class A Common Stock is traded
on The NASDAQ Stock Market's Global Select Market under the symbol
IMKTA. For more information, visit Ingles' website at www.ingles-markets.com.
The comments in this press release contain certain forward-looking
statements. Ingles undertakes no obligation to publicly release any
revisions to any forward-looking statements contained herein to reflect
events or circumstances occurring after the date hereof or to reflect
the occurrence of unanticipated events, except as required by law. Ingles’
actual results may differ materially from those projected in
forward-looking statements made by, or on behalf of, Ingles. Factors
that may affect results include changes in business and economic
conditions generally in Ingles’ operating area, pricing pressures,
increased competitive efforts by others in Ingles’ marketing areas and
the availability of financing for capital improvements. A more
detailed discussion of these factors may be found in reports filed by
the Company with the Securities and Exchange Commission including its
2012 Form 10-K and 2013 Forms 10-Q.
Copyright Business Wire 2013