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Play to redeem floating-rate, 5¼%, 6½%, PIK toggle notes
New York, March 13 – Polish mobile telephone company Play announced the redemption of four series of notes issued at various levels of its capital structure.
The company will redeem the €270 million of 6½% senior notes due 2019 issued by Play Finance 1 SA on March 21 at 103.25% of par, the €725 million of 5¼% senior secured notes due 2019 issued by Play Finance 2 SA on March 21 at 101.313% of par, the PLN 130 million of floating-rate senior secured notes due 2019 also issued by Play Finance 2 at par on March 21 and the €415 million of 7¾% / 8½% senior PIK toggle notes due 2020 issued by Play Topco SA on March 22 at 101% of par.
In each case, Play will also pay accrued interest up to but excluding the redemption date.
All the redemptions are conditional on the closing of a new financing made up of a PLN 7 billion term and revolving credit facility, part of which will be used to finance the redemption.
Play is headquartered in Warsaw.
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