Ruby Tuesday, Inc. (the "Company") announced today that it had priced a
private offering to eligible purchasers of $250 million of 7 5/8% Senior
Notes due 2020 (the "Notes") at an offering price of 98.536% of the
principal amount thereof. The proceeds from the sale of the Notes will
be used to repay all outstanding indebtedness under the Company's
revolving credit facility, to redeem all of its outstanding Series B
senior notes, to pay off certain of its outstanding mortgage loan
obligations and for general corporate purposes, including without
limitation to opportunistically repurchase shares of its outstanding
common stock and to pursue potential strategic acquisitions.
The Notes have not been registered under the Securities Act of 1933 or
applicable state securities laws and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable state
laws. The Company plans to offer and issue the Notes only to qualified
institutional buyers pursuant to Rule 144A under the Securities Act and
to non-U.S. persons outside the United States pursuant to Regulation S.
This press release is being issued pursuant to Rule 135c under the
Securities Act of 1933, and is neither an offer to sell nor a
solicitation of an offer to buy the notes or any other securities and
shall not constitute an offer to sell or a solicitation of an offer to
buy, or a sale of, the Notes or any other securities in any jurisdiction
in which such offer, solicitation or sale is unlawful.
Ruby Tuesday, Inc.
Greg Ashley, 865-379-5700