Last checked at 29 Jun 2018 07:00
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation (EU) 596/2014 ("Market Abuse Regulation") and is disclosed in accordance with the obligations of HSS Hire Group plc under Article 17 of the Market Abuse Regulations.
HSS FINANCING PLC ANNOUNCES THE CONDITIONAL REDEMPTION OF £136,000,000 AGGREGATE PRINCIPAL AMOUNT OF ITS 6.750% SENIOR SECURED NOTES DUE 2019
LONDON-Friday, June 29, 2018
HSS Financing plc (the "Issuer") today announced that it has issued a notice of conditional redemption (the "Redemption") with respect to the entire aggregate principal amount of the Issuer's 6.75% Senior Secured Notes due 2019 outstanding, being £136,000,000 (the "Notes"). The Notes were issued pursuant to the indenture dated as of February 6, 2014, and supplemented by the supplemental indenture dated July 6, 2017 (the "Indenture").
The Notes will, subject to satisfaction of the Condition (as defined below), be redeemed on July 10, 2018 (the "Notes Redemption Date") at a redemption price of 100.000% of the principal amount thereof, plus accrued and unpaid interest on the Notes to the applicable redemption date, in aggregate, £140,054,500.00 and Additional Amounts (as defined in the Indenture), if any. The accrued and unpaid interest up to, but excluding, the Notes Redemption Date will be £4,054,500.00.
The Redemption will be subject to the Issuer's receipt on or prior to the Notes Redemption Date of funds in an aggregate amount sufficient to redeem the Notes (the "Condition") from the Issuer's drawings under a new term loan facility. The Issuer reserves the right to revoke this redemption notice if the Condition is not satisfied.
Accordingly, none of the Notes will be deemed due and payable on the Notes Redemption Date unless and until the Condition has been satisfied or waived by the Issuer. There is no assurance that the Condition will be satisfied or that the Redemption will occur.
Forward-Looking Statements
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