Ingles Markets, Incorporated Announces Closing of its Senior Notes Offering
June 17 2021 - 4:15PM
Business Wire
Ingles Markets, Incorporated (“Ingles” or the “Company”)
(NASDAQ: IMKTA) today announced the closing of its previously
announced private offering of $350.0 million aggregate principal
amount of 4.000% Senior Notes due 2031 (the “Notes”).
The Company will use the net proceeds from the offering to
redeem in full the Company’s issued and outstanding 5.75% Senior
Notes due 2023 (the “Existing Notes”), repay the outstanding
balance under its existing credit facility, and pay related fees
and expenses. This press release does not constitute a notice of
redemption with respect to the Existing Notes.
The Notes have not been, and will not be, registered under the
Securities Act of 1933, as amended, or any other securities laws,
and the Notes may not be offered or sold in the United States
absent registration under the Securities Act or an applicable
exemption from registration requirements.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful. This
press release is not a notice of redemption for the Existing
Notes.
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act. These
forward-looking statements include, but are not limited to,
statements concerning the Company’s plans, objectives, expectations
and intentions and other statements that are not historical or
current fact. The words “expect,” “anticipate,” “intend,” “plan,”
“likely,” “goal,” “believe,” “seek,” “will,” “may,” “would,”
“should” and similar expressions are intended to identify
forward-looking statements. These views involve risks and
uncertainties that are difficult to predict and, accordingly, the
Company’s actual results may differ materially from the results
discussed in its forward-looking statements. The Company’s
forward-looking statements contained herein speak only as of the
date of this press release. Factors or events the Company cannot
predict, including those described in the risk factors contained in
its filings with the Securities and Exchange Commission, may cause
the Company’s actual results to differ from those expressed in
forward-looking statements. Although the Company believes the
expectations reflected in such forward-looking statements are based
on reasonable assumptions, the Company can give no assurance that
its expectations will be achieved, and the Company undertakes no
obligation to update publicly any forward-looking statements as a
result of new information, future events or otherwise.
Ingles Markets, Incorporated is a leading grocer with operations
in six southeastern states. Headquartered in Asheville, North
Carolina, the Company operates 198 supermarkets. In conjunction
with its supermarket operations, the Company operates neighborhood
shopping centers, most of which contain an Ingles supermarket. The
Company also owns a fluid dairy facility that supplies Ingles
supermarkets and unaffiliated customers. To learn more about Ingles
Markets visit ingles-markets.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210617005823/en/
Ingles Markets, Inc. Ron Freeman, Chief Financial Officer
rfreeman@ingles-markets.com (828) 669-2941 (Ext. 223)
Ingles Markets (NASDAQ:IMKTA)
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