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Garfunkelux to redeem six series of sterling, euro, krona notes Nov. 5
By Taylor Fox
New York, Nov. 4 – Garfunkelux Holdco 2 SA and Garfunkelux Holdco 3 SA will redeem six series of notes on Nov. 5, according to company announcements.
As previously reported, Garfunkelux Holdco 2 plans to redeem its £230 million 11% senior notes due 2023 (ISIN: XS1308317889, XS1308316568) at 102.75, plus interest up to Nov. 1.
Garfunkelux Holdco 3 will redeem the following:
• €415 million floating-rate senior secured notes due 2023 (ISIN: XS1681017759, XS1681017163) at par;
• £565 million 8½% senior secured notes due 2022 (ISIN: XS1308301024, XS13083000059) at par, plus interest from Sept. 1;
• £365 million 7½% senior secured notes due 2022 (ISIN: XS1263892561, XS1263891910) at par, plus interest from Aug. 1;
• €530 million floating-rate senior secured notes due 2023 (ISIN: XS1756341779, XS1756364805) at par, plus interest from Sept. 1; and
• SEK 1.28 billion floating-rate senior secured notes due 2023 (ISIN: XS1756365281, XS1756365018) at 102.375, plus interest from Sept. 1.
The redemptions are each subject to a financing condition.
Parent company Lowell announced plans to issue about £1.61 billion equivalent of senior secured notes through Garfunkelux Holdco 3. Proceeds from the new notes will be used to fund the redemptions.
Citibank, NA, London Branch is the trustee and paying agent.
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