Landry's Restaurants, Inc. Announces Extension of Cash Tender Offers and Consent Solicitations for its Outstanding 9.5% and 7.5%
January 07 2009 - 10:08PM
PR Newswire (US)
HOUSTON, Jan. 7 /PRNewswire-FirstCall/ -- Landry's Restaurants,
Inc. ("Landry's"; NYSE: LNY) announced today that it has extended
the consent payment deadlines and expiration dates of the
previously announced cash tender offers and consent solicitations
for its outstanding 9.5% Senior Notes due 2014 (CUSIP No.
51508LAC7) (the "9.5% Notes") and 7.5% Senior Notes due 2014 (CUSIP
Nos. 51508LAA1 and 51508LAB9) (the "7.5% Notes" and, together with
the 9.5% Notes, the "Notes"). The consent payment deadlines for the
tender offers and consent solicitations will now be 5:00 p.m., New
York City time, on January 14, 2009, and the tender offers and
consent solicitations will now expire at 5:00 p.m., New York City
time, on January 29, 2009, unless terminated or such dates are
further extended. As of 5:00 p.m., New York City time, on January
7, 2009, tenders and consents had been received with respect to
$181,453,000 aggregate principal amount of the 9.5% Notes,
representing approximately 45.9% of the outstanding 9.5% Notes, and
$433,000 aggregate principal amount of the 7.5% Notes, representing
approximately 10.0% of the outstanding 7.5% Notes. Holders that
tender their 9.5% Notes pursuant to the tender offer may also
exercise their option to require Landry's to repurchase the 9.5%
Notes as provided in the related indenture. If a holder both
validly tenders its 9.5% Notes pursuant to the tender offer and
validly exercises its repurchase right, the holder's tender of 9.5%
Notes pursuant to the tender offer will also constitute a valid
delivery of 9.5% Notes for purposes of the holder's repurchase
right, and, in the event the expiration date of the tender offer is
extended past the applicable purchase date for the holder's 9.5%
Notes, the holder will receive the purchase price for its 9.5%
Notes on the applicable purchase date, rather than the payment date
for the tender offer. The information agent for the tender offers
is Innisfree M&A Incorporated. The tender agent for the tender
offers is U.S. Bank National Association. Questions regarding the
tender offers and consent solicitations and requests for copies of
each Offer to Purchase and Consent Solicitation Statement and
related documents may be directed to Innisfree M&A
Incorporated, telephone number (888) 750-5834 (toll free) and (212)
750-5833 (call collect). This announcement is not an offer to
purchase, a solicitation of an offer to sell, or a solicitation of
consents with respect to the Notes or any new securities. Each
tender offer and consent solicitation is made solely by means of an
Offer to Purchase and Consent Solicitation Statement and related
Consent and Letter of Transmittal dated December 23, 2008, as
supplemented by the supplement thereto dated January 7, 2009.
Landry's is a national, diversified restaurant, hospitality and
entertainment company principally engaged in the ownership and
operation of full-service, casual dining restaurants, primarily
under the names of Rainforest Cafe, Saltgrass Steak House, Landry's
Seafood House, Charley's Crab, The Chart House, and the Signature
Group of restaurants. Landry's is also engaged in the ownership and
operation of select hospitality businesses, including the Golden
Nugget Hotel & Casino in downtown Las Vegas and Laughlin,
Nevada. DATASOURCE: Landry's Restaurants, Inc. CONTACT: Steven L.
Scheinthal, Executive Vice President and General Counsel, or Rick
H. Liem, Executive Vice President and CFO, both of Landry's
Restaurants, Inc., +1-713-850-1010 Web site:
http://www.landrysrestaurants.com/
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