Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2023 > News item |
Tendam Brands to conditionally, partially redeem floaters due 2028
By William Gullotti
Buffalo, N.Y., Oct. 6 – Spain’s Tendam Brands SAU issued a conditional partial redemption notice to holders of its €300 million floating-rate senior secured notes due 2028 (ISINs: XS2537462462, XS2537462389) on Friday.
Tendam elected to redeem €190 million of the notes, subject to satisfaction or waiver of a financing condition, at 101 on Oct. 16.
Accrued and unpaid interest totaling €4,557,245 will also be paid.
The financing condition hinges upon the issuer’s utilization of its term loan facility prior to the redemption date, as a €187.5 million drawdown will fund the redemption along with Tendam’s cash on hand.
Deutsche Bank AG, London Branch is the paying agent.
Tendam is a Madrid-based fashion retailer.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.