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Premier Foods makes contingent call for £175 million floaters due 2020
By Susanna Moon
Chicago, May 16 – Premier Foods Finance plc issued a conditional redemption notice for its £175 million senior secured floating-rate notes due 2020.
The floaters will be redeemed at par on June 15, unless the refinancing condition has not been met by then but no later than July 15.
The issuer also will pay any additional amounts and, if the redemption occurs after June 15, accrued interest to but excluding the redemption date.
HSBC Bank plc is the paying agent.
The redemption is contingent upon the closing of one or more financing transactions with enough proceeds to repurchase the notes.
Premier Foods plc, the parent company, is a St. Albans, England-based food manufacturer.
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