Codere issues call for 9% PIK notes, 5½%/3½% PIK notes due 2021 at 102

By Susanna Moon

Chicago, Oct. 25 – Codere Finance 2 (Luxembourg) SA issued a conditional redemption notice for its 9% pay-in-kind third-lien notes due 2021 and its 5½% cash/ 3½% PIK second-lien notes due 2021.

The notes will be redeemed at 102% of par plus accrued interest to but excluding the redemption date of Nov. 24, according to two separate notices. The record date will be the business day before the redemption date.

The call for each series of notes is conditioned on the issue of secured notes in one or more series before the redemption date. If the condition has not been met, the issuer may extend the date until Jan. 23.

Banco Bilbao Vizcaya Argentaria, SA is the principal paying agent. GLAS Trust Corp. Ltd. is the trustee.

Codere Finance (Luxembourg) SA is a Munsbach, Luxembourg-based subsidiary of Codere, SA. Codere is a Madrid-based gaming company.

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