Lowell Group calls 5 7/8% notes due 2019, 10¾% notes due 2019

New York, Oct. 5 – Lowell Group Financing plc said it will redeem its £115 million of 5 7/8% senior secured notes due 2019 and its £275 million of 10¾% senior secured notes due 2019 on Oct. 15.

The 5 7/8% notes will be repaid at the make-whole price plus accrued interest up to but excluding the redemption date.

Lowell will repay the 10¾% notes at a price of 108.063% of par, also plus accrued interest up to but excluding the redemption date.

Both redemptions are subject to the company receiving the funds needed to redeem the notes and also to repay its revolving credit facility. The redemptions are also conditional on the completion of the acquisition of Metis Bidco Ltd. by Simon Bidco Ltd.

Lowell Group is a Leeds, England-based purchaser of non-performing consumer debt portfolios.

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