DALLAS, March 9 /PRNewswire/ -- Fleming Companies, Inc. (NYSE: FLM) today
announced that it has agreed to sell $130 million of its 5.25% Convertible
Senior Subordinated Notes due 2009 through a private placement to qualified
institutional buyers pursuant to Rule 144A and in offshore transactions
pursuant to Regulation S under the Securities Act of 1933, as amended.
Fleming expects to close the transaction on or about March 15, 2001. Fleming
has also granted the initial purchasers of the Convertible Senior Subordinated
Notes a 30-day option to purchase up to an additional $20 million of the
Convertible Senior Subordinated Notes.
The Convertible Senior Subordinated Notes will be guaranteed on a senior
subordinated basis by all of Fleming's current and future wholly-owned
domestic subsidiaries. Fleming will use the net proceeds of this offering to
repay amounts outstanding under its revolving credit facility.
The Convertible Senior Subordinated Notes will not be, and have not been,
registered under the Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration under the Securities
Act of 1933, as amended, or an applicable exemption from the registration
requirements thereof. This press release shall not constitute an offer to
sell, or the solicitation of an offer to buy, nor shall there be any sale of
the notes in any state in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state.
Fleming is an industry leader in the distribution of consumable goods and
also has a growing presence in operating price impact supermarkets. Through
our distribution group, we distribute products to customers that operate
approximately 3,000 supermarkets, 3000 convenience stores and nearly
1,000 supercenters, discount stores, limited assortment stores, drug stores,
specialty stores and other stores across the United States.
Any statements in this press release that are not historical facts are
forward-looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements are
subject to risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements. For a description of
important factors which could cause actual results to differ from those
contained in the forward-looking statements, see the reports and documents
Fleming files from time to time with the Securities and Exchange Commission.
Fleming is under no obligation (and expressly disclaims any such obligation)
to update or alter its forward-looking statements, whether as a result of new
information, future events or otherwise.
CONTACTS:
(Media) Randy Hatcher 972.906.8823
(Investors-Equity) Meredith Anderson 972.906.8592
(Investors-Debt) Alan McIntyre 972.906.8126
SOURCE Fleming
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Related links:
http://www.fleming.com
CONTACT:
media, Randy Hatcher, +1-972-906-8823, or
investors-equity, Meredith Anderson, +1-972-906-8592, or
investors-debt, Alan McIntyre, +1-972-906-8126, all of Fleming
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