| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers J > Headlines for Jerrold Holdings Ltd. > News item |
Jerrold gets tenders for £125.39 million 9¾% notes, calls remainder
By Angela McDaniels
Tacoma, Wash., Oct. 10 – Jerrold Holdings Ltd. said its Jerrold FinCo plc subsidiary received tenders for £125,389,000, or 41.8%, of its £300 million of 9¾% senior secured notes due 2018.
A tender offer for the notes began on Sept. 26 and ended at 11 a.m. ET on Oct. 7.
The issuer will pay 104.875% of par plus accrued interest up to but excluding the settlement date, which is scheduled for Oct. 13.
The issuer will redeem all of the notes that remain outstanding after the settlement date at 104.875% of par plus accrued interest up to but excluding the redemption date, which is expected to be Oct. 23.
The company said the tender offer allows holders to receive the purchase price earlier than waiting for the redemption.
The tender offer had a financing condition.
Jerrold FinCo priced a £375 million issue of five-year senior secured notes at par to yield 6¼% on Sept. 29.
Credit Suisse Securities (Europe) Ltd. (+44 20 7883 8763 or liability.management@credit-suisse.com) and J.P. Morgan Securities plc (+44 20 7134 3438 or emea_lm@jpmorgan.com) were dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or jerrold@lucid-is.com) was the tender agent.
Jerrold is a Cheadle, England-based mortgage lender.
© 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.