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Elli seeks to release assets securing £350 million 8¾% notes due 2019
By Devika Patel
Knoxville, Tenn., July 8 – Elli Finance (UK) plc is seeking consents from the holders of its £350 million of 8¾% senior secured notes due 2019 to release the assets used as collateral to secure the notes, according to a press release.
The consent solicitation will expire at 4 p.m. GMT on July 15. The company is not paying a consent fee.
To release the assets, the company must receive consents from holders of at least 50% of the notes.
Elli Finance (UK), based in Wilmslow, England, operates as a special-purpose entity. It was set up to issue senior secured notes for Elli Group (UK) Ltd.
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