By Wendy Van Sickle
Columbus, Ohio, July 29 – Galaxy Bidco Ltd. priced a £100 million add-on to its 6½% senior secured notes due 2026 at 100.5, according to a company notice.
The Regulation S issue is an add-on to the £305 million of the notes that were issued on July 31, 2019.
The additional notes are expected to be issued on July 31.
Proceeds are expected to be used to fully repay amounts outstanding under the company’s revolving credit facility and to fund cash on the company’s balance sheet.
Galaxy Bidco issues various financial instruments and is based in Skelmersdale, U.K. Galaxy Bidco is a subsidiary of Galaxy Topco Ltd.
| Issuer: | Galaxy Bidco Ltd.
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| Issue: | Senior secured notes
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| Amount: | £100 million add-on
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| Maturity: | 2026
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| Coupon: | 6½%
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| Price: | 100.5
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| Settlement date: | July 31
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| Distribution: | Regulation S
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| Original issue: | £305 million issued on July 31, 2019
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