GCI receives tenders of $114.6 million 9¾% notes by consent deadline

New York, Feb. 17 - General Communications, Inc. said its subsidiary GCI, Inc. has accepted for payment $114.592 million principal amount of its 9¾% senior notes due 2007 tendered by the consent deadline of 5 p.m. ET on Feb. 13.

Holders will receive $1,035 per $1,000 principal amount plus accrued interest up to but not including Feb. 17. The figure includes a $10 per $1,000 consent payment.

The tender offer continues until March 2 but holders will only receive $1,025 per $1,000 principal amount.

GCI said it will redeem the remaining $65.409 million of the notes on March 18 at a price of $1,032.50 per $1,000 principal amount plus accrued interest up to but excluding March 18.

The Anchorage, Alaska communications company said the holders will receive more from the redemption than from the tender offer.

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