Landry's, Inc. Announces Extension Of The Expiration Date Of Tender Offer And Consent Solicitation For Its Senior Notes Due 2015
HOUSTON, April 19, 2012 /PRNewswire/ -- Landry's, Inc. ("Landry's") announced today that it has extended the expiration date of its previously announced tender offer and consent solicitation for its $655,500,000 aggregate principal amount of Senior Secured Notes due 2015 (CUSIP Nos. 51508L AK9 and 51509B AA2) (the "Notes") outstanding. The tender offer, which was to have expired at 12:00 midnight, New York City time, on April 20, 2012, will now be extended to 12:00 midnight, New York City time, on April 23, 2012, unless the tender offer is terminated or further extended (the "Expiration Date").
As of 5:00 p.m., New York City time, on April 18, tenders and consents had been received with respect to $644,237,000 principal amount of the Notes, representing approximately 98.3% of the Notes outstanding. Withdrawal and revocation rights have terminated with respect to tendered Notes and consents pursuant to the terms of the Offer to Purchase and Consent Solicitation Statement dated March 26, 2012 (the "Offer to Purchase").
Except for the extension of the Expiration Date as described above, all other terms and conditions of the tender offer and consent solicitation remain unchanged. Holders that have previously tendered their Notes do not need to re-tender their Notes or take any other action in response to this extension.
As previously announced, pursuant to the terms of the Offer to Purchase, Landry's, the guarantors, the trustee and the collateral agent have executed a supplemental indenture (the "Supplemental Indenture") to amend the indenture governing the Notes to release all of the collateral that secures the Notes and eliminate substantially all of the restrictive covenants as well as certain events of default. The amendments contained in the Supplemental Indenture will not become operative until the purchase of validly tendered Notes pursuant to the terms of the Offer to Purchase.
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