Trustreet Properties, Inc. Announces Extension of Consent Solicitation Relating to its 7 1/2% Senior Notes Due April 1, 2015
20 2월 2007 - 10:30PM
PR Newswire (US)
ORLANDO, Fla., Feb. 20 /PRNewswire-FirstCall/ -- Trustreet
Properties, Inc. (NYSE:TSY) announced today that it has extended
the consent solicitation to amend the indenture governing its
outstanding $300 million aggregate principal amount of 7 1/2%
Senior Notes due April 1, 2015 (CUSIP No. 898404 AB 4). The consent
solicitation has been extended to expire at 5:00 p.m., New York
City time, on February 22, 2007, unless terminated or extended by
Trustreet. The proposed amendments are being sought in connection
with the previously announced proposed acquisition by General
Electric Capital Corporation, or GECC, of Trustreet. Subject to
receipt of the consents required to adopt the proposed amendments
and the satisfaction or waiver of certain other conditions,
including completion of its proposed acquisition of Trustreet, GECC
has offered to fully and unconditionally guarantee all payment
obligations of Trustreet with respect to the notes. Other than the
extension of the consent period, no other terms of the solicitation
have changed. All consents that have been received as of the date
hereof will continue to remain valid unless they are validly
withdrawn. For a complete statement of the terms and conditions of
the consent solicitation, the proposed amendments, and the GECC
guarantee, note holders should refer to the Prospectus Supplement
and Consent Solicitation Statement, and the related Letter of
Consent, dated January 24, 2007, as amended hereby. There can be no
assurance that GECC's proposed acquisition of Trustreet will be
completed. Its completion is subject to the satisfaction or waiver
of the closing conditions that are set forth in the Agreement and
Plan of Merger, dated as of October 30, 2006, between Trustreet and
GECC, a copy of which is contained in Trustreet's definitive proxy
statement relating to the proposed acquisition, which was filed
with the Securities and Exchange Commission on January 5, 2007.
Among the closing conditions is the approval of the transaction by
Trustreet's common stockholders at a meeting scheduled to be held
on February 22, 2007. If the proposed acquisition of Trustreet is
not completed, the proposed amendments and GECC guarantee will not
become operative. The acquisition, however, is not conditioned on
the successful completion of the consent solicitation, and
Trustreet and GECC intend to complete the proposed acquisition even
if the consent solicitation is not successful. Trustreet has
engaged D.F. King & Co., Inc. as Information and Tabulation
Agent for the consent solicitation. Requests for documents or other
information should be directed to D.F. King & Co., Inc. at 48
Wall Street, 22nd Floor, New York, New York 10005 (banks and
brokers call: 1-212-269-5550; all others call toll-free:
1-800-697-6975). This press release is for informational purposes
only. It does not constitute a solicitation of consents. The
consent solicitation is made solely by means of the Prospectus
Supplement and Consent Solicitation Statement dated January 24,
2007, as amended hereby. About Trustreet Properties, Inc. Trustreet
Properties, Inc. is the largest self-advised restaurant real estate
investment trust (REIT) in the United States. Trustreet, which
trades on the NYSE under the ticker symbol TSY, provides a complete
range of financial, real estate and advisory services to operators
of national and regional restaurant chains. For more information,
visit http://www.trustreet.com/. About General Electric Capital
Corporation General Electric Capital Corporation ("GECC") offers
financing and services primarily in North America, Europe and Asia.
GECC is indirectly wholly owned by General Electric Company
(NYSE:GE) and operates in four of General Electric Company's
operating segments: GE Commercial Finance, GE Consumer Finance, GE
Industrial and GE Infrastructure. Financing and services offered by
GECC are diversified, and currently GE Company manufactures few of
the products financed by GECC. Forward-Looking Statements Some of
the statements contained in this press release constitute forward-
looking statements. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. The forward-looking
statements reflect Trustreet's current views about future events
and are subject to risks, uncertainties, assumptions and changes in
circumstances that may cause Trustreet's actual results to differ
significantly from those expressed in any forward-looking
statement. You should not rely on forward-looking statements since
they involve known and unknown risks, uncertainties and other
factors that are, in some cases, beyond Trustreet's control and
that could materially affect actual results. The factors that could
cause actual results to differ materially from current expectations
include risks detailed from time to time in filings with the
Securities and Exchange Commission. The forward-looking statements
contained herein represent Trustreet's judgment as of the date of
this release, and Trustreet cautions readers not to place undue
reliance on such statements. Additional Information and Where to
Find It This communication is being made in respect of the proposed
acquisition of Trustreet Properties, Inc. by General Electric
Capital Corporation. Trustreet filed a definitive proxy statement
relating to the proposed acquisition with the SEC on January 5,
2007. Before making any decision with respect to the consent
solicitation, holders of notes are urged to read the definitive
proxy statement carefully and in its entirety because it contains
important information relating to the consent solicitation. The
definitive proxy statement and other documents are available free
of charge at the SEC's Internet Web site at http://www.sec.gov/.
The definitive proxy statement and other pertinent documents also
may be obtained for free at Trustreet's website at
http://www.trustreet.com/. Trustreet and its officers and directors
and other employees may be deemed to be participants in the
solicitation of proxies from the common stockholders of Trustreet
in connection with the proposed acquisition. Information about the
executive officers and directors of Trustreet and the number of
shares of Trustreet common stock beneficially owned by such persons
is set forth in the filed definitive proxy statement in connection
with the proposed acquisition. GECC has filed a registration
statement (including a prospectus) with the SEC for the offering of
the GECC guarantee in connection with the consent solicitation to
which this communication relates. Before you make a decision
regarding the consent solicitation, you should read the prospectus
in that registration statement and other documents GECC has filed
with the SEC for more complete information about GECC and the
offering of the GECC guarantee. You may get these documents for
free by visiting EDGAR on the SEC's Internet website at
http://www.sec.gov/. Alternatively, GECC, Trustreet or D.F. King,
the Information Agent and Tabulation Agent in connection with the
consent solicitation, will arrange to send you the prospectus, any
prospectus supplement or free writing prospectus for the consent
solicitation if you request it by calling 1-800-697-6975.
DATASOURCE: Trustreet Properties, Inc. CONTACT: Liz Kohlmyer
Director of Communications of Trustreet Properties, Inc.,
+1-407-540-2221 Web site: http://www.trustreet.com/
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