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House of Fraser calls 8 7/8% notes due 2018 for redemption on Aug. 26
New York, July 27 – House of Fraser (Funding) plc will redeem its £250 million of 8 7/8% senior secured notes due 2018 on Aug. 26, according to a notice from the issuer.
Holders will receive 104.4375% of par plus accrued interest to the redemption date.
Completion of the redemption is conditional on the issuance of at least £175 million of new senior secured notes due 2020 and funding of £125 million under a new senior secured credit facility.
House of Fraser is a subsidiary of Highland Group Holdings Ltd., a London-based department store operator.
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