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25 Nov 2015 10:36
FOR IMMEDIATE RELEASE
25 November 2015
Hastings Group Holdings plc
Announcement of Redemption of Fixed and Floating Rate Senior Secured Notes
In line with the announcement made on 23 October 2015, Hastings Group Holdings plc confirms that its subsidiary, Hastings Insurance Group (Finance) plc, (the "Issuer"), has today redeemed the remaining outstanding Senior Secured Notes (the "Redeemed Notes"), outlined below:
- £150.0m Senior Secured Floating Rate Notes due 2019 and,
- £159.9m 8% Senior Secured Fixed Rate Notes due 2020,
This redemption was funded, in part, by the Issuer drawing down in full against its new £300.0m Term Loan Facility, which was agreed on 12 August 2015, with the remainder, including additional costs and accrued interest, being settled via the utilisation of existing free cash.
Enquiries
Hastings GroupRichard Hoskins
Chief Financial Officer
T: +44 (0)1424 738244 ir@hastingsplc.com
Paul Pavey
Director of Investor Relations
T: +44 (0)1424 738203 ir@hastingsplc.com
Instinctif Partners
Mike Davies / Nick Woods
T: +44 (0) 207 457 2020 hastings@instinctif.com
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