Cardtronics begins tender offer, consent bid for 9¼% notes due 2013

By Susanna Moon

Chicago, Aug. 12 - Cardtronics, Inc. said it began a cash tender offer for its outstanding $200 million principal amount of 9¼% senior subordinated notes due 2013.

The company also is soliciting consents to amend the note indenture.

The offer is scheduled to expire at 11:59 p.m. ET on Sept. 9.

Cardtronics will pay $1,025.63 for each $1,000 principal amount, including a $25.00 premium for notes tendered by 5 p.m. ET on Aug. 25, the consent expiration.

Tendered notes may be withdrawn and consents may be revoked before 5 p.m. ET on Aug. 25.

The offer requires receiving the needed consents to amend the notes, execution of a supplemental indenture and completion of debt financing with proceeds sufficient to help fund the tender.

Funding for the offer also will come from cash on hand and loans available under the company's revolving credit facility.

D.F. King & Co., Inc. (800 431-9643 or banks and brokers 212 269-5550) is the depositary and information agent. Bank of America Merrill Lynch (888 292-0070 and collect 980 388-9217) is the dealer manager and solicitation agent.

Cardtronics is a Houston-based non-bank operator of ATMs.

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