Federated Department Stores Inc (FDS) announced that it's wholly owned subsidiary, Federated Retail Holdings Inc, is increasing to $1 billion the maximum aggregate principal amount of Notes to be purchased in the pending cash Tender Offer for a portion of the Notes listed in the table on Exhibit A.
Federated Retail Holdings had previously offered to pay a maximum aggregate purchase price of up to $750 million (excluding accrued interest, fees and expenses) in the Tender Offer. This action was taken in response to the positive reception the Tender Offer has experienced.
As of 5:00 p.m., New York City time, on Thursday, November 16, 2006, which was the Early Tender Date, an aggregate principal amount of $1,792,899,000 of the Notes had been validly tendered and not validly withdrawn.
The table on Exhibit A identifies the principal amount of each series of Notes validly tendered and not validly withdrawn before the Early Tender Date.
Because the maximum aggregate principal amount of $1 billion for the Tender Offer was exceeded, Federated Retail Holdings will not accept all of the Notes tendered for purchase.
As described on Exhibit A, certain Notes will be promptly returned to the tendering holder (or, if tendered through DTC, will be promptly credited to the relevant account at DTC, in accordance with DTC's procedures).
Subject to the terms and conditions of the Tender Offer, other Notes will be accepted for payment as set forth in the Offer to Purchase dated November 2, 2006.
Federated Department Stores Inc
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