| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Paydowns > Headlines for Altisource Solutions Sarl > News item |
AA plans to repay £209 million of senior term facility via new issues
By Susanna Moon
Chicago, March 25 – AA plc announced plans to repay £209 million of AA Senior Co. Ltd.’s £663 million senior term facility using proceeds of new issues.
The company plans to raise £935 million from the issue of £200 million of equity and the issue of new class B notes for £735 million, according to a company press release.
Along with £209 million cash on the balance sheet, proceeds also will be used to refinance the £655 million 9½% class B notes of AA Bond Co. Ltd. and to redeem £175 million 9½% senior PIK toggle notes of AA PIK Co. Ltd.
AA is a Basingstoke, England-based company that provides roadside assistance.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.