El Pollo Loco again extends tender offer on 11¾% and 14½% notes to Sept. 29

By Laura Lutz

Des Moines, July 28 - El Pollo Loco Inc. and EPL Intermediate Inc. further extended the expiration date on their previously announced tender offers to 5 p.m. ET on Sept. 29, according to a company release.

The expiration was previously 5 p.m. ET on Aug. 11, after having already been extended to July 27 from July 12.

The El Pollo Loco offer is for its 11¾% senior notes due 2013, and the EPL offer is for its 14½% senior discount notes due 2014.

As previously reported, the companies had received tenders from holders of $125.726 million, or 100%, of the 11¾% notes and $39.342 million, or 100%, of the 14 ½% senior discount notes by June 26.

Those holders who tendered by the consent deadline will receive a consent payment of $50.00 per $1,000 principal amount in addition to the tender offer payment plus accrued interest.

The offer is subject to conditions, including completion of an initial public offering of common stock, El Pollo Loco entering into a new credit facility, a consent condition, a minimum tender condition and a requirement that the companies receive consents from holders of a majority of each series of notes.

Merrill Lynch, Pierce, Fenner & Smith Inc. is the dealer manager and solicitation agent (call collect 212 449-4914 or 888 ML4-TNDR). Global Bondholder Services Corp. is the information agent (866 937-2200).

El Pollo Loco is a fast food restaurant operator based in Irvine, Calif. EPL is the parent company of El Pollo Loco.

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