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HEMA to redeem 715 million floaters, 6Ό% notes, senior notes July 20
By Marisa Wong
Morgantown, W.Va., July 10 HEMA affiliates HEMA Bondco I BV and HEMA Bondco II BV issued conditional notices of redemption for their senior secured floating-rate notes, senior secured fixed-rate notes and senior notes.
Specifically, HEMA Bondco I plans to redeem all of its 250 million senior secured floaters due 2019 and 315 million 6Ό% senior secured notes due 2019. HEMA Bondco II is calling all of its 150 million senior notes due 2019.
The redemption date for all three series of notes will be July 20, and the record date will be July 19.
The redemption price for the senior secured floaters is par plus accrued interest and additional amounts to the redemption date of 1,276,042, for an aggregate redemption amount of 251,276,042.
The redemption price for the 6Ό% senior secured notes is 101.563 plus accrued interest and additional amounts to the redemption date of 1,914,063, for an aggregate redemption amount of 321,837,513.
The senior notes will be redeemed at 104.25 plus accrued interest and additional amounts to the redemption date of 1,239,583, for an aggregate redemption price of 157,614,583.
Citibank, NA, London Branch is the trustee and paying agent.
The redemptions are conditioned on the issuance of new notes. The issuers announced on Monday that they plan to price 610 million principal amount of senior secured floating-rate notes due July 2022 and 150 million principal amount of senior notes due January 2023.
Proceeds from the new notes, along with cash on hand, also will be used to repay the groups purchase money obligation facility, including accrued interest.
HEMA is an Amsterdam-based retailer.
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