Europcar calls 11½% notes at 111.5, 9 3/8% notes at 104.688

By Susanna Moon

Chicago, June 26 – Europcar Groupe, SA subsidiary EC Finance plc issued notices to redeem its €324 million of 11½% senior subordinated secured notes due 2017 and its €400 million of 9 3/8% senior subordinated unsecured notes due 2018.

The purchase price will be 111.5 for the 11½% notes and 104.688 for the 9 3/8% notes, with a redemption date of July 6, according to two separate company notices.

The company also will pay accrued interest to the redemption date.

The call issued for the 11½% notes is conditioned on the company raising enough proceeds from its initial public offering of shares by July 3 to fund the redemption.

The redemption for the 9 3/8% notes will be conditioned on the company completing by July 3 the release from escrow of the proceeds of its 5.57% senior notes due 2022 after the IPO, the company said.

Bank of New York Mellon is the paying agent.

EC Finance is a special-purpose financing company for Europcar Groupe, a Saint Quentin en Yvelines, France-based car rental company.

© 2015 Prospect News.
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