Regal Entertainment begins tender offers for 9 1/8%, 8 5/8% notes

By Susanna Moon

Chicago, May 29 - Regal Entertainment Group said it began separate cash tender offers for its $525 million 9 1/8% senior notes due 2018 and the $400 million 8 5/8% senior notes due 2019 of Regal Cinemas Corp., a wholly owned subsidiary.

The company will pay up to $244.35 million to purchase the two series of notes, listed in order of priority acceptance level, according to a press release.

The total purchase price per $1,000 principal amount will be $1,143.75 for the 9 1/8% notes and $1,120 for the 8 5/8% notes.

The total payment includes a $30 early tender premium for each $1,000 par amount of notes tendered by 5 p.m. ET on June 11, the early tender date.

Those who tender after the early tender date will receive $1,113.75 and $1,090, respectively, for each $1,000 of 9 1/8% notes and 8 5/8% notes.

The tender offers will end at 11:59 p.m. ET on June 25.

Tendered notes may be withdrawn by the early tender deadline.

The offers are conditioned on the company obtaining financing.

Credit Suisse Securities (USA) LLC (800 820-1653 or collect 212 325-2476) is the dealer manager. D.F. King & Co., Inc. (800 431-9633 or for banks and brokers only 212 269-5500) is the information agent.

The company is a Knoxville, Tenn.-based motion picture exhibitor.

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