GCI Completes Offer to Purchase for Cash Any and All of its Outstanding 8.625% Senior Notes due 2019
April 01 2015 - 9:59AM
Anchorage, Alaska, April 1, 2015 - General
Communication, Inc. (Nasdaq: GNCMA) announced today the completion
of the previously announced cash tender offer (the "Tender Offer")
for any and all of the outstanding 8.625% Senior Notes due 2019
(the "Notes") issued by GCI, Inc. ("GCI").
Holders of the Notes who validly tendered (and did
not validly withdraw) their Notes at or prior to 5:00 p.m., New
York City time, on March 31, 2015 (such time and date, the
"Expiration Time"), or who delivered to the depository and
information agent a properly completed and duly executed Notice of
Guaranteed Delivery at or prior to the Expiration Time in
accordance with the instructions described in the Offer to
Purchase, will receive in cash $1,047.44 per $1,000 principal
amount of Notes validly tendered and accepted for purchase payable
for such tendered Notes that were accepted by GCI for purchase in
the Tender Offer, plus accrued and unpaid interest to, but not
including, the settlement date, which is expected to be April 1,
2015.
At the Expiration Time, valid tenders had been
received with respect to approximately $334.5 million of the $425
million aggregate principal amount of the Notes outstanding.
In accordance with the indenture governing the 2019 Notes,
GCI has issued an irrevocable notice of redemption with respect to
all outstanding Notes that were not tendered in the Tender Offer.
The redemption date is May 1, 2015.
Contact
Tom Chesterman
(907) 868-1585
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: General Communication Inc via Globenewswire
HUG#1908137
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