Lowen Play’s Safari calls 8¼% senior secured notes due 2021

New York, Dec. 18 – Safari Holding Verwaltungs GmbH will redeem its €154.6 million of 8¼% senior secured notes due 2021 in full, according to a notice from the issuer.

The notes will be repaid in two parts, a mandatory amortization offer and a redemption which will cover any notes not tendered in the mandatory amortization offer.

Safari will begin the mandatory amortization offer on Jan. 11, and the results will be announced on Feb. 12.

Up to €23.5 million of the notes may be tendered in the mandatory amortization offer.

All remaining notes including any of the €23.5 million covered by the mandatory amortization offer but not tendered into that offer will be redeemed on Feb. 15 at 102.063% of par plus accrued interest up to but excluding the redemption.

The Feb. 15 redemption is subject to conditions including the completion of the acquisition by Safari Verwaltungs GmbH of the shares in APEP GmbH held by AXA LBO Fund IV FPCI and the shares of Safari Holding GmbH held by Cofima III SA, AXA LBO Fund IV FPCI, AXA LBO Fund IV Supplementary FPCI and LEO Management Beteiligungs GmbH & Co. KG.

Safari is an issuer for Lowen Play GmbH, a Bingen am Rhein, Germany-based casino operator.

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