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Viridian to pay down revolver borrowings with senior notes proceeds
By Sara Rosenberg
New York, Jan. 28 – Viridian Group FundCo II Ltd. plans to repay drawings under its revolving credit facility using proceeds from a €600 million senior secured notes offering, according to a news release.
Remaining proceeds will be used to repay a portion of the amounts outstanding under a junior credit facility, to redeem €313 million and $250 million of 11 1/8% senior secured notes due 2017 and to make payments in relation to the settlement of certain cross currency swaps.
Viridian is a Belfast-based energy company.
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