Voyage Care announces £250 million two-part secured notes offering

By Paul A. Harris

Portland, Ore., April 18 – Voyage Care BondCo plc announced in a Tuesday press release that it is offering £250 million of secured notes.

The Rule 144A and Regulation S offering includes £210 million of senior secured notes due 2023 and £40 million of second-lien notes due 2023.

Proceeds, together with equity to be injected in Voyage BidCo Ltd. by certain of its shareholders, an expected draw on a new revolving credit facility and cash on hand, will be used to fully redeem the £222 million of 6½% senior secured notes due 2018 and £50 million of 11% second-lien notes due 2019 on May 13 and to fund working capital requirements.

The prospective issuer is a Cannock, England-based services provider for individuals with disabilities.

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