DALLAS, Sept. 5 /PRNewswire/ -- Fleming Companies, Inc. (NYSE: FLM) today
announced that it has commenced the solicitation of consents from holders of
its 10-1/2 percent senior subordinated notes due 2004 and 10-5/8 percent
senior subordinated notes due 2007 in connection with certain proposed
amendments to the indentures governing those securities. The principal
purpose of the proposed amendments is to provide Fleming with additional
flexibility to issue new senior subordinated debt. Fleming is seeking
consents from holders of record of the notes as of September 4, 2001.
As part of the consent solicitation, Fleming will make a cash payment of
$3.75 per $1,000 principal amount of the notes if the proposed amendments
become effective. The solicitation of consents will expire at 5:00 p.m. EDT
on September 12, 2001, unless extended by Fleming. Fleming has retained
Deutsche Banc Alex. Brown Inc. and J.P. Morgan Securities Inc. as Solicitation
Agents in connection with the consent solicitation.
Any questions or requests for assistance or copies of the consent
solicitation materials may be directed to Deutsche Banc Alex. Brown
(212-469-7772), D.F. King & Co. (800-714-3305), the Information Agent, or
Manufacturers and Traders Trust Company (715-842-5602), the Tabulation Agent.
Fleming is an industry leader in distribution and has a growing presence
in value retailing. Fleming's primary business is buying and selling
merchandise. The company serves approximately 3,000 supermarkets including
more than 700 North American stores of global supermarketer IGA and other
regional banners, 5,500 convenience stores and more than 2,000 supercenters,
discount, limited assortment, drug, specialty, and other businesses across the
country.
Safe-Harbor Statement: This release includes forward-looking statements
that depend on future events for their accuracy, or rely upon projections and
assumptions which may prove to be inaccurate. These forward-looking
statements and the company's business and prospects are subject to a number of
factors that could cause actual results to differ materially, including: the
ability to obtain capital or obtain it on acceptable terms; adverse effects of
the changing industry environment and increased competition; and negative
effects of the company's substantial indebtedness and the limitations imposed
by restrictive covenants contained in the company's debt instruments. These
and other risk factors are described in the company's Securities and Exchange
Commission reports, including but not limited to the 10-K Report for the 2000
fiscal year. The company undertakes no obligation to update forward-looking
statements to reflect developments or information obtained after the date
hereof.
CONTACTS:
(Media) Shane Boyd 972.906.8824
(Media) Randy Hatcher 972.906.8823
(Investors-Equity) Meredith Anderson 972.906.8592
(Investors-Debt) Matt Hildreth 972.906.8126
SOURCE Fleming
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Related links:
http://www.fleming.com
CONTACT:
media, Shane Boyd, +1-972-906-8824, or Randy
Hatcher, +1-972-906-8823, or investors-equity, Meredith Anderson,
+1-972-906-8592, or investors-debt, Matt Hildreth,
+1-972-906-8126, all of Fleming
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