Garfunkelux to redeem €230 million floating-rate notes due 2021

By Sarah Lizee

Olympia, Wash., Sept. 5 – Garfunkelux Holdco 3 SA plans to redeem all of its existing €230 million floating-rate senior secured notes due 2021 using funds from a new offering of €415 million floating-rate senior secured notes due 2023, according to a press release.

The company also plans to use proceeds to pay fees and expenses in connection with the offering.

Garfunkelux includes GFKL Group, Germany’s largest receivables management business, and Lowell Group, the United Kingdom’s largest debt purchasing and collections business.

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