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 financi
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