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Brakes Capital calls floaters due 2018 at 101, 7 1/8% notes at 103.563
By Susanna Moon
Chicago, June 10 – Brakes Capital called its €150 million of floating-rate senior secured notes due 2018 and its £457 million of 7 1/8% senior secured notes due 2018.
The notes will be redeemed on July 11 at a purchase price of 101% of par for the floaters and at 103.563% for the 7 1/8% notes, plus accrued interest to but excluding the redemption date, according to two company notices.
The aggregate redemption amount for the floaters is €152,017,291.067, or €151.5 million plus accrued interest of €517,291.67.
For the 7 1/8% notes, the redemption amount will be £475,634,555.83, or £473,282,910 plus accrued interest of £2,351,645.83.
The redemption for each series is contingent on the closing of the sale and purchase of the issued share capital and some loan notes of Cucina Lux Investments Ltd., the issuer’s parent company, with Sysco Corp. and enough proceeds to fund the redemption.
U.S. Bank NA is the trustee and security agent; Elavon Financial Services Ltd., UK Branch is the paying agent, transfer agent and calculation agent; and Elavon Financial Services Ltd. is the registrar.
The record date is July 10.
Brakes is an Ashford, England-based foodservice distributor.
© 2015 Prospect News.
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