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J. Crew announces 9-3/4% Senior Subordinated Notes due 2014

18 Oct '05

2 min read

Leading apparel, shoes and accessories retailer J.Crew announced that pursuant to its previously announced tender offer and consent solicitation, holders of 100 percent of the outstanding principal amount of its 9-3/4 percent Senior Subordinated Notes due 2014 (CUSIP No. 46612GAC1) (the "Notes") have tendered their Notes and delivered consents to proposed amendments to the Indenture pursuant to which the Notes were issued.

The Company commenced the tender offer and consent solicitation on October 3, 2005. If the tender offer and consent solicitation are consummated, holders of Notes who tendered their Notes at or prior to the Consent Payment Deadline (which was October 14, 2005 at 5:00 pm New York City Time) will receive the Total Consideration equal to $1,015.07 per $1,000 principal amount of the Notes validly tendered, or 101.507 percent of their par value, plus accrued and unpaid interest up to, but not including, the settlement date.

The right to withdraw tendered Notes and revoke consents will expire upon the execution of the supplemental indenture containing the proposed amendments to the Indenture, which is expected to occur on or about October 17, 2005. The proposed amendments will become effective upon the Company's acceptance for payment of the Notes tendered in the tender offer.

The tender offer and consent solicitation are scheduled to expire at 9:00 am, New York City time, on November 1, 2005, unless extended (the "Expiration Time"). The consummation of the tender offer and consent solicitation are conditioned upon the simultaneous closings of the initial

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