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:2/9/2016)... ... February 09, 2016 , ... ... LLC to help enterprises move workloads to the cloud. Cirracore provides a ... their cloud without traversing the Internet. Transformation Solutions (TSL Partners) provides a ...
(Date:2/9/2016)... ... February 09, 2016 , ... On January 12, 2016 ... an appointment after they noticed their furnace not producing any heat. Shortly after entering ... The cracked heat exchanger was leaking dangerous levels of carbon monoxide into the home, ...
(Date:2/9/2016)... ... February 09, 2016 , ... ... service to expand access to affordable hearing aids , increase industry transparency, ... individuals in the United States. , “For the average consumer, the hearing aid ...
(Date:2/9/2016)... ... February 09, 2016 , ... United Methodist Communications collaborated ... Prevention,” an animated video designed to prevent the next widespread Ebola ... video are being distributed throughout Togo, Liberia, Sierra Leone, Nigeria, Côte d’Ivoire and ...
(Date:2/9/2016)... ... February 09, 2016 , ... The Brain Preservation Foundation’s (BPF) ... from 21st Century Medicine (21CM) ( http://www.21cm.com/ ), spearheaded by recent MIT ... of an intact rabbit brain for extremely long-term storage using a combination of ...
Breaking Medicine News(10 mins):
(Date:2/9/2016)... 9, 2016 Mast Therapeutics, Inc. (NYSE ... sickle cell disease and heart failure, today announced that it ... purchase common stock in an underwritten public offering.  The offering ... be no assurance as to whether or when the offering ... terms of the offering.   --> ...
(Date:2/9/2016)... Feb. 9, 2016 The new report "Global Diagnostic Ultrasound ... & Consulting group reveals that global diagnostic ultrasound devices market was ... to US$ 7,466.3 million by 2019 at a CAGR of 6.8% ... global ultrasound market has been analyzed for six geographies of ... Asia-Pacific , Latin America , ...
(Date:2/9/2016)... , Feb. 9, 2016 The leader ... that AcceleDent ® is the recipient of the ... category. An FDA-cleared, Class II medical device that speeds ... percent and relieves pain often associated with treatment, AcceleDent ... participated in the annual Orthotown survey of ...
Breaking Medicine Technology: