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Germany’s Safari runs annual amortization offer for 8¼% notes due 2021
By Susanna Moon
Chicago, Jan. 11 – Safari Holding Verwaltungs GmbH has begun its mandatory amortization offer for up to €23.5 million, or 10%, of the 8¼% notes its €235 million 8¼% senior secured notes due 2021 in the offer that ran until noon ET on Feb. 8.
As previously announced, the issuer is required to offer to repurchase the notes at par plus accrued interest each year, on the date falling 25 business days prior to Feb. 15.
The current offer will remain open until noon ET on Feb. 8, with settlement following on Feb. 15.
Safari had repurchased €400,000 of the 8¼% notes in the most recent offer that ran until noon ET on Feb. 8, 2016.
After the repurchase on Feb. 15, there was €234.6 million of the notes left outstanding.
Deutsche Trustee Co. Ltd. is the trustee, and Deutsche Bank AG, London Branch is the paying agent.
Questions may go to Deutsche Bank at xchange.offer@db.com or +44 0 20 7547 5000.
As announced before, the company also ran the required amortization offer to repurchase the same amount of the 8¼% notes on Jan. 12, 2015.
Safari is an arcade operator based in Bingen Am Rhein, Germany.
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