By Lisa Kerner
Charlotte, N.C., May 21 - ABPA Holdings Ltd. subsidiary ABP Acquisitions UK Ltd. agreed to privately place four tranches of floating-rate senior secured guaranteed notes totaling $235 million due in eight, nine, 10 and 15 years.
ABP also agreed to place two tranches of floating-rate senior secured guaranteed notes totaling £115 million. The notes mature in nine and 15 years.
Issuance of the notes is deferred until July, according to a company news release.
Proceeds will be lent intra-group and used to refinance an equivalent amount of ABP Acquisitions UK's existing senior bank facilities.
ABPA Holdings is a London-based port operator.
| Issuer: | ABP Acquisitions UK Ltd.
|
| Issue: | Senior secured notes
|
| Pricing date: | May 21
|
| Settlement: | July
|
| Distribution: | Private placement
|
|
|
| Dollar-denominated notes
|
| Amount: | $235 million
|
| Coupon: | Floating rate
|
| Tenors: | Eight, nine, 10 and 15 years
|
|
|
| Sterling-denominated notes
|
| Amount: | £115 million
|
| Coupon: | Floating rate
|
| Maturities: | Nine and 15 years
|
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