Stater Bros. gets tenders for $479.89 million 8 1/8% notes due 2012

By Susanna Moon

Chicago, Dec. 13 - Stater Bros. Holdings Inc. said it completed the tender offer for its $525 million of 8 1/8% senior notes due 2012, which expired at 11:59 p.m. ET on Dec. 10.

The company received tenders for $2,435,000 principal amount of the notes after the consent payment deadline, which was 5 p.m. ET on Nov. 26.

Stater paid $993.75 per $1,000 principal amount of those notes plus accrued interest on Dec. 13.

The company will redeem any notes that remain outstanding on Jan. 14 at par plus accrued interest.

As of the consent payment deadline, investors had tendered $477,454,000 principal amount, or 91%, of the notes. All of these notes were purchased on Nov. 29.

Holders who tendered their notes by the consent deadline received $1,003.75 per $1,000 principal amount of notes, including a consent payment of $10.00 per note, plus accrued interest.

The offer began Nov. 12.

The company said on Nov. 30 that it received the needed consents to amend the notes, which required the consents of holders of at least a majority of the notes.

Bank of America Merrill Lynch (888 292-0070 or 980 388-9217) was the dealer manager and solicitation agent. Global Bondholder Services Corp. (866 873-6300 or 212 430-3774) was the information agent.

Stater is a Colton, Calif., supermarket chain.

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