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Hollywood Entertainment to tender for 9 5/8% notes as part of acquisition by Movie Gallery
New York, Jan. 12 - Hollywood Entertainment Corp. plans to make a tender offer to buy its $225 million principal amount of 9 5/8% senior subordinated notes due 2011 as part of Movie Gallery Inc.'s acquisition of the company.
Wachovia Capital Markets, LLC will be the dealer manager for the tender offer, according to a DEFA14A filed with the Securities and Exchange Commission Wednesday.
The tender offer will also include a consent solicitation.
If some notes remain outstanding after the tender is completed, Hollywood Entertainment will then carry out a change-of-control offer.
Movie Gallery is a Dothan, Ala.-based owner and operator of video specialty stores. Hollywood is a Wilsonville, Ore.-based video chain and will remain in Wilsonville following the acquisition.
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