Media Contact:
Christy Phillips Brown
(704) 383-8178
Investor Contact:
Alice Lehman
(704) 374-4139
|
June 14, 2004
The Money Store, LLC Commences Tender Offer for its 7.95% Subordinated Notes Due 2007
CHARLOTTE, N.C. - The Money Store, LLC, an indirect subsidiary of Wachovia Corporation, today announced that it has commenced a tender offer for all of its outstanding 7.95% Subordinated Notes Due 2007, other than the notes beneficially owned and held by Wachovia Corporation and/or its affiliates. The obligations of The Money Store, LLC under the notes are fully and unconditionally guaranteed by Wachovia Corporation.
Under the terms of the offer, The Money Store, LLC will purchase the outstanding notes at a fixed purchase price of $1,147.50 per $1,000 principal amount of the notes. The Money Store, LLC also will pay all accrued and unpaid interest to each holder on all notes validly tendered (and not validly withdrawn) and accepted pursuant to the offer up to, but not including, the date of payment of such purchase price.
The offer will expire at 5 p.m., Eastern Standard Time, on July 13, 2004, unless extended or earlier terminated. Payment for tendered securities is anticipated to be made on the third business day following expiration of the offer, or as soon thereafter as practicable.
Subject to certain conditions, The Money Store, LLC will pay a solicitation fee of $3.75 per $1,000 principal amount of tendered notes to nominees who hold such notes on behalf of certain beneficial owners.
Wachovia Securities will act as Dealer Manager for the offer. Global Bondholder Services Corporation is the Information Agent and the Depositary for the offer.
This press release is neither an offer to purchase nor a solicitation of an offer to sell the notes. The offer is made only by an Offer to Purchase dated June 14, 2004. Persons with questions regarding the offer should contact the Information Agent at 1-866-612-1500 or the Dealer Manager at 1-866-309-6316.
|
