| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for Kirk Beauty SUN GmbH > News item |
Douglas will make first cash interest payment on PIK notes
Chicago, Oct. 17 – Douglas GmbH reported that robust liquidity is enabling the company to make its first cash payment on its PIK notes, according to a press release.
The company refinanced the Kirk Beauty SUN GmbH notes in 2021 with a cash coupon of 8¼% and a PIK coupon of 9%.
The payment date was Oct. 16.
The next payment date is April 15, 2024.
“Douglas has always stated that interest on the Kirk Beauty SUN notes will be PIK’ed until our liquidity buffer and projections give us confidence that we can pay cash interest,” chief financial officer Mark Langer said in the press release.
The cash payment, the company noted, supports its deleveraging plan and represents interest cost savings of more than €4 million per year.
The borrower is a perfume and cosmetics retailer based in Dusseldorf, Germany.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.