ORLANDO, Fla., July 2, 2015 /PRNewswire/ -- Darden Restaurants,
Inc. (NYSE: DRI) (the "Company") announces today that it has
extended the expiration date of the solicitation of consents (the
"Solicitation") from holders of the Company's 6.00% Senior Notes
due 2035 (the "2035 Notes") (CUSIP: 237194AE5) and the Company's
6.80% Senior Notes due 2037 (the "2037 Notes") (CUSIP: 237194AH8)
(the 2035 Notes and the 2037 Notes together, the "Notes") which is
being conducted pursuant to terms contained in the consent
solicitation statement dated June 23,
2015 (the "Solicitation Statement"). The Solicitation
is extended and will now be open for the receipt of consents until
5:00 p.m., New York Time, on
July 9, 2015 (the "Amended Expiration
Date"). All references in the Solicitation Statement to the
Expiration Date shall now be deemed to be references to the Amended
Expiration Date.
The Company is undertaking the Solicitation to provide it with
the flexibility to enter into certain sale and leaseback
transactions as part of its recently announced real estate
strategy. The amendments proposed to be made to the terms of the
Notes pursuant to the Solicitation are not a condition to the
Company's recently announced real estate strategy.
Any holder of Notes who has previously delivered a consent
pursuant to the Solicitation Statement does not need to redeliver
such consent or take any other action. Any holder of Notes
who has not yet delivered a consent should follow the instructions
set forth in the Solicitation Statement, and may use the previously
distributed consent form for purposes of delivering its
consent.
Except as described in this press release, all other terms
described in the Solicitation Statement remain unchanged.
Holders of the Notes are urged to review the Solicitation Statement
and the related consent form for the detailed terms of the
Solicitation and the procedures for providing its consent.
The Solicitation is being made solely on the terms and subject
to the conditions set forth in the Solicitation Statement. The
Company may, in its sole discretion, terminate, further extend or
amend the Solicitation at any time, as described in the
Solicitation Statement.
Questions concerning the terms of the Solicitation should be
directed to BofA Merrill Lynch at (888) 292-0070 (toll-free) or
(980) 683-3215 (collect). BofA Merrill Lynch and J.P. Morgan
Securities LLC are the Solicitation Agents for the Solicitation
(the "Solicitation Agents"). Requests for assistance in completing
and delivering a consent form or requests for additional copies of
the Solicitation Statement, the consent form or other related
documents should be directed to D.F.
King & Co., Inc. (the "Information and Tabulation
Agent"), at (212) 269-5550 (collect) or (800) 330-5897 (toll-free)
or in writing at 48 Wall Street, 22nd Floor, New York, New York 10005.
Important Notice
This press release is for
informational purposes only and is neither an offer to sell nor a
solicitation of an offer to buy any security. This announcement
must be read in conjunction with the Solicitation Statement and
related consent form. None of the Company, the Trustee, the
Solicitation Agents or the Information and Tabulation Agent make
any recommendation as to whether or not Holders should provide
consents to the proposed amendments to be made to the terms of the
relevant Notes pursuant to the First Supplemental Indenture.
Holders of Notes should not construe the contents of this press
release, the Solicitation Statement or any related materials as
legal, business or tax advice. Each holder of Notes should consult
its own attorney, business advisor and tax advisor as to legal,
business, tax and related matters concerning the Solicitation.
The Solicitation is not being made to, and consents will not be
accepted from or on behalf of, a holder of Notes in any
jurisdiction in which the making of the Solicitation or the
acceptance thereof would not be in compliance with the laws of such
jurisdiction. However, the Company may in its discretion take such
action as it may deem necessary to lawfully make the Solicitation
in any such jurisdiction and to extend the Solicitation to any
holder of Notes in such jurisdiction. In any jurisdiction in which
the securities laws or blue sky laws require the Solicitation to be
made by a licensed broker or dealer, the Solicitation will be
deemed to be made on behalf of the Company by the Solicitation
Agents or one or more registered brokers or dealers that are
appropriately licensed under the laws of such jurisdiction.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act, which statements may be identified by the use of
forward-looking terminology, such as "may," "will," "expect,"
"anticipate," "estimate," "plans" or "continue" or the negative
thereof or other variations thereon or comparable terminology
referring to future events or results. The Company's actual results
could differ materially from those anticipated in these
forward-looking statements as a result of certain factors,
including those set forth in the Solicitation Statement.
About Darden
Darden Restaurants, Inc., (NYSE: DRI)
owns and operates more than 1,500 restaurants that generate
$6.8 billion in annual sales.
Headquartered in Orlando, Florida,
and employing 150,000 people, Darden is recognized for a culture
that rewards caring for and responding to people. Our
restaurant brands – Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille,
Eddie V's and Yard House – reflect the rich diversity of those who
dine with us. Our brands are built on deep insights into what
our guests want. For more information, please visit
www.darden.com.
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SOURCE Darden Restaurants, Inc.: Financial