Navigation Links
Duane Reade Holdings, Inc. Announces Expiration and Results of Tender Offers for Senior Secured Floating Rate Notes and Senior Subordinated Notes and Solicitation of Consents to Related Indentures
Date:8/7/2009

NEW YORK, Aug. 7 /PRNewswire/ -- Duane Reade Holdings, Inc. announced today the expiration and the final results of the previously announced offers by its wholly-owned subsidiaries, Duane Reade Inc. and Duane Reade (collectively, the "Issuers"), to purchase for cash (i) any and all of the Issuers' $210,000,000 outstanding aggregate principal amount of their Senior Secured Floating Rate Notes due 2010 (the "Floating Rate Notes") (the "FRN Offer") and (ii) up to $146,250,000 of the Issuers' $195,000,000 outstanding aggregate principal amount of 9.75% Senior Subordinated Notes due 2011 (the "Subordinated Notes" and, together with the Floating Rate Notes, the "Notes") (the "Subordinated Notes Offer" and, together with the FRN Offer, the "Offers").

The Offers expired at 11:59 p.m. on August 6, 2009, at which time holders of $205,029,000, or 97.6%, of the Floating Rate Notes and holders of $143,291,000, or 73.5%, of the Subordinated Notes tendered their Notes in the Offers. The Offers were settled today.

Goldman, Sachs & Co. and Banc of America Securities LLC served as the Dealer Managers and Solicitation Agents for the Offers.

About Duane Reade

Founded in 1960, Duane Reade is the largest drug store chain in New York City, offering a wide variety of prescription and over-the-counter drugs, health and beauty care items, cosmetics, greeting cards, convenience foods and photofinishing. As of June 27, 2009, the Company operated 253 stores.

The statements in this release contain forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. These forward-looking statements relate to future events or our future financial performance with respect to our financial condition, results of operations, business plans and strategies, operating efficiencies or synergies, competitive positions, growth opportunities for existing products such as private label merchandise, plans and objectives of management, capital expenditures, growth and maturation of our stores and other matters. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. Those risks include, among other things, the national economic climate, economic conditions and employment levels in the New York greater metropolitan area, the strength of the economy in general, the competitive environment in the drug store industry in general and in the New York metropolitan area, the ability to open and operate new stores, the continued efforts by payers and government agencies to reduce prescription reimbursement rates and prescription drug benefits, changes in federal and state laws and regulations, including the potential impact of changes in regulations surrounding the importation of pharmaceuticals from foreign countries and changes in laws governing minimum wage requirements, changes in the Company's operating strategy, capital expenditure plans or development plans, the Company's ability to successfully execute its business plan, the Company's ability to attract, hire and retain qualified pharmacy and other personnel, the Company's significant indebtedness, labor disturbances, the continued impact of, or new occurrences of, terrorist attacks in the New York greater metropolitan area and any actions that may be taken in anticipation or response, demographic changes, the Company's ability to limit fraud and inventory shrink, the results of the Company's legal proceedings and recalls of pharmaceutical products due to health concerns or other reasons. Those and other risks are more fully described in Duane Reade Holdings, Inc.'s reports filed with the SEC from time to time, including its annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except to the extent otherwise required by federal securities laws, the Company does not undertake to publicly update or revise any forward-looking statements.

    CONTACT:
    Caren Villarreal
    212-850-5600
    caren.villarreal@fd.com


'/>"/>
SOURCE Duane Reade Holdings, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Duane Reade Holdings, Inc. Announces Closing of Offering of $300 Million of 11.75% Senior Secured Notes Due 2015
2. Duane Reade Holdings, Inc. Announces Pricing of Offering of 11.75% Senior Secured Notes Due 2015
3. Duane Reade Holdings, Inc. to Report Second Quarter 2009 Financial Results
4. Duane Reade Holdings, Inc. Amends Terms and Extends Deadlines for Previously Announced Cash Tender Offers for Senior Secured Floating Rate Notes and Senior Subordinated Notes
5. Duane Reade Dispenses a Large Dose of Marketing, as it Strengthens its Hometown Connection
6. Duane Reade Holdings, Inc. Announces Cash Tender Offers for Senior Secured Floating Rate Notes and Senior Subordinated Notes and Solicitation of Consents to Related Indentures
7. Duane Reade Announces Premier-Level Sponsorship of AIDS Walk New York
8. Duane Reade Holdings, Inc. Reports First Quarter 2009 Results
9. Duane Reade Holdings, Inc. Reports Fourth Quarter and Full Year 2008 Results
10. Duane Reade Holdings, Inc. Further Strengthens Management Team With Addition of Frank Scorpiniti, SVP, Pharmacy Operations
11. Duane Reade Holdings, Inc. Reports Third Quarter Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... ... May 25, 2016 , ... Casa Velas, an adults-only boutique ... precious stones to complement its new wellness suites . The two 1,350 sq. ... a plethora of special services and insuite amenities, from a custom soap selection and ...
(Date:5/25/2016)... ... 25, 2016 , ... Laser Skin & Wellness Center is excited ... time of female aging. The Juliet™ procedure helps to reverse the ... leakage, laxity, itchiness and pain have reported real relief from these and other problems ...
(Date:5/25/2016)... TX (PRWEB) , ... May 25, 2016 , ... ... the United States, named Dr. Anh Tat Nguyen, as the Medical Director of its ... the facility Medical Director of our new DeSoto location,” said Dr. James M. Muzzarelli, ...
(Date:5/24/2016)... ... May 24, 2016 , ... Sterling Global Products is launching a Kickstarter campaign ... hanging wipe dispenser. The campaign kick-off video is located via this link https://youtu.be/WsO4qz2odco ... The goal is to raise $1,000 per day for a total of $25,000. The ...
(Date:5/24/2016)... ... May 24, 2016 , ... Women's Excellence ... Roberta Jordan is a Certified Nurse Midwife who was born and raised in ... went on to complete her masters degree from the University of Mexico. Roberta ...
Breaking Medicine News(10 mins):
(Date:5/23/2016)... STAMFORD, Conn. , May 23, 2016 /PRNewswire/ ... Company has entered into an agreement with Egalet ... various patent claims. As part of the agreement ... rights, and will enable all three companies to ... abuse-deterrent properties. "This agreement reflects the ...
(Date:5/20/2016)... India , May 20, 2016 ... Survey Report 2016 to Medical Devices of its ... and in-depth survey on the current state of ... overview of the industry like definitions, classifications, Specifications, ... information about manufacturing process like Raw Material Suppliers, ...
(Date:5/20/2016)... , May 20, 2016 ... Therapeutic Antibody Technologies, Insulins, Growth Hormones, Recombinant Coagulation ... Biological Drugs - This New Study Reveals Selling ... Ahead ,What is the future ... the latest technological and commercial analysis. Staying ahead ...
Breaking Medicine Technology: