By Paul A. Harris
Portland, Ore., March 16 – Domestic & General Group Ltd. announced in a Friday press release that it has priced £43.5 million of Galaxy Bidco Ltd. Libor plus 450 basis points senior secured floating-rate notes due 2020 at 99.75.
The notes, which were issued under the same indenture as the company's Regulation S senior secured floating-rate notes due 2019, came as an add-on to the Euribor plus 450 bps senior secured floating rate notes due 2020, issued in an exchange offer for the 2019 notes.
The Bedworth, England-based home-appliance warranty provider plans to use the proceeds, together with cash on hand, to redeem and cancel the outstanding Rule 144A notes together with the outstanding Regulation S notes not tendered.
| Issuer: | Galaxy Bidco Ltd.
|
| Amount: | £43.5 million
|
| Maturity: | 2020
|
| Security description: | Floating-rate senior secured notes add-on
|
| Coupon: | Libor plus 450 bps
|
| Price: | 99.75
|
| Announcement date: | March 16
|
| Settlement date: | March 21
|
| Distribution: | Regulation S
|
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