Denny's Announces Tender Offer
Denny’s Corporation (NASDAQ: DENN) today announced that Denny’s Holdings, Inc. has commenced an offer to purchase for cash any and all of its outstanding 10% Senior Notes due 2012, which Notes are guaranteed by Denny’s Corporation, and a solicitation of consents relating to the Notes.
Currently, $175 million aggregate principal amount of the Notes are outstanding. In conjunction with the Offer, Denny’s Holdings, on behalf of itself and Denny’s Corporation, is also soliciting consents to the adoption of proposed amendments to the Indenture (as defined below) governing the Notes and to the execution of a supplemental indenture effecting the proposed amendments.
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