These transactions include the entry into new senior credit facilities, comprising a €435 million term loan B facility and a €70 million revolving credit facility, which was partially drawn on March 29, 2017 to refinance Paroc’s existing €230 million floating rate senior secured notes due 2020.
Today, Paroc has drawn the remaining term loan B commitments to redeem, together with cash on hand, its €196 million 6¼% senior secured notes due 2020. Paroc has now redeemed all senior secured notes under its indenture dated as of May 14, 2014.
The information contained in this announcement may contain forward-looking statements, estimates and projections. These statements involve elements of subjective judgment and analysis and are based upon the best judgment of Paroc as of the date of this announcement. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties, as there are a variety of factors that may cause actual results and developments to differ materially from any future results and developments expressed or implied by such forward-looking statements. Therefore, you should not rely on these forward-looking statements. Neither Paroc nor any other person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this announcement or to update or keep current any of the information contained herein and this announcement is not a representation by Paroc or any other person that they will do so, except to the extent required by law.
This announcement constitutes a public disclosure of inside information by the Issuer under Regulation (EU) 596/2014 (16 April 2014).
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any loans or securities.