IDH Finance intends to redeem £500 million of notes due 2018, 2019

By Wendy Van Sickle

Columbus, Ohio, July 20 – IDH Finance plc called its £200 million of senior secured 6% notes due 2018, its £225 million of senior secured floating rate notes due 2018 and its £75 million of 8½% second lien notes due 2019.

Each series of notes will be redeemed Aug. 19, according to three notices. The redemption prices will be par plus accrued interest for the 6% notes, 101.5 plus accrued interest for the floating-rate notes and 104.25 plus accrued interest for the 8½% notes.

The redemptions are conditioned upon the issuer closing an offering of new notes with proceeds sufficient to pay the redemption prices and repay borrowings under IDH’s revolving credit facility. The issuer said it may postpone the redemptions by 30 to 60 days if the condition has not been met but is expected to be met within that timeframe.

Elavon Financial Services DAC is the paying agent.

The dental services provider is based in Kearsley, England.

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