By Sarah Lizee
Olympia, Wash., March 21 – NoHo Partners plc issued a €25 million hybrid bond with the coupon fixed at 9% for the first three years, according to a press release.
Nordea Bank is the lead manager for the transaction.
The interest rate will reset every three years from the issue date.
The bond does not have a maturity date, but the issuer is entitled to redeem the bond for the first time on March 29, 2022 and on each coupon interest payment date after that.
As previously reported, proceeds will be used for investments in line with the company’s strategy, including possible international and domestic acquisitions, for the repayment of some existing debt of about €5 million, including the repayment of some loans granted by the lead manager, as well as for general corporate purposes.
Tampere, Finland-based NoHo is a restaurant group with about 200 restaurants, bars, pubs, nightclubs and entertainment centers in Finland and Denmark.
| Issuer: | NoHo Partners plc
|
| Issue: | Hybrid bond
|
| Amount: | €25 million
|
| Maturity: | Perpetual
|
| Lead manager: | Nordea Bank
|
| Coupon: | 9% for the first three years; resets every three years
|
| Call option: | On any interest payment date starting March 29, 2022
|
| Announcement date: | March 21
|
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