SGS Finance scheme takes effect; three note series redeemed

By Wendy Van Sickle

Columbus, Ohio, April 17 – SGS Finance plc said that its scheme of arrangement took effect on April 11, resulting in the full redemption of its three series of notes, according to a notice of intention to delist.

The notes include

• £450 million of 3 7/8% series 1 notes due 2028 (ISIN: XS0904228557);

• £350 million of 4 5/8% series 2 notes due 20233 (ISIN: XS0904228987); and

• £350 million of 4¼% series 3 notes due 20235 (ISIN: XS1131914811).

The notes were redeemed in full by an assignment of the company’s rights against SGS FinCo Ltd. as borrower under the March 2013 intercompany loan agreement, with such rights being held for the benefit of the holders of the notes by Kroll Issuer Services Ltd. as trustee; and a cash payment from each of the company and SGS New Finco Ltd. in satisfaction of the balance of principal and interest outstanding under the notes, which were not redeemed in kind.

The real estate investment trust is based in London.

© 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.