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Cabot Financial redeems £265 million notes due 2019 via new offering
By Tali Rackner
Norfolk, Va., Oct. 7 – Cabot Financial (Luxembourg) SA fully redeemed its £265 million in senior secured notes due 2019 with the net proceeds from a £350 million offering of 7½% senior secured notes due 2023, according to an 8-K filing with the Securities and Exchange Commission.
Proceeds were also used to partially repay amounts outstanding under its senior facilities.
Cabot is a West Malling, England-based credit management services provider. It is an indirect subsidiary of Encore Capital Group, Inc.
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