Loews Cineplex extends consent deadline in tender for all $315 million 9% notes due 2014

By Jennifer Chiou

New York, Jan. 6 - Loews Cineplex Entertainment Corp. announced the extension of the consent deadline in its tender offer for all $315 million of its 9% senior subordinated notes due 2014.

The consent date was pushed back to 5 p.m. ET on Jan. 10 from 5 p.m. ET on Jan. 6.

The New York-based theater chain is soliciting consents to amend the notes' indenture to eliminate all restrictive covenants and events of default.

The tender is conditioned upon the receipt of consents from holders of a majority of the notes and sufficient financing as well as the completed merger of LCE Holdings, Inc., the parent company of Loews, and Marquee Holdings Inc., the parent company of AMC Entertainment Inc., and the merger of Loews and AMC.

Loews said it extended the consent solicitation in order for noteholders to review additional financial information for the merger.

The company said it will pay $1,012.50 per $1,000 principal amount of notes, including a $12.50 consent payment for those who tender their holdings by the consent deadline.

The offer ends at 5 p.m. ET on Jan. 25, unless extended.

The company launched the offer on Dec. 21.

D.F. King & Co., Inc. is the information agent (888 628-1041 or call collect 212 269-5550).

The dealer managers and solicitation agents are Credit Suisse First Boston LLC (800 820-1653 or call collect 212 325-7596), Citigroup Global Markets Inc. (800 558-3745 or call collect 212 723-6106) and J.P. Morgan Securities Inc. (866 834-4666 or call collect 212 834-3424).

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