(Alliance News) - Premier Foods PLC on Thursday said it will repay a further GBP30 million of its senior secured floating rate notes due July 2022.
The St Albans, Hertfordshire-headquartered food manufacturer said the move comes amid its continued strong trading performance and cash generation. Following the repayment, the company said it will have GBP20 million outstanding notes due July 2022.
The redemption date is March 31 and the record date is March 30.
Following this redemption, about GBP190 million of the notes will have been repaid during the company's current financial year, it said, generating total interest savings of over GBP9.5 million per annum.
Premier Foods said HSBC Corp Trustee Co UK Ltd and HSBC Bank PLC will be acting as trustee and paying agent, respectively.
Premier Foods shares were trading 0.9% higher in London on Thursday at 90.30 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Premier Foods (PFD)