Q-Park tenders for €425 million 1.5% secured notes due 2025

By Wendy Van Sickle

Columbus, Ohio, Jan. 8 – Q-Park Holding I BV began a cash tender offer for any and all of its €425 million of 1.5% senior secured notes due 2025 (ISIN: XS2115189875), according to a news release.

The company is offering a purchase price of 98.5 plus accrued interest for the Regulation S notes. Rule 144A notes are not covered under the offer.

The offer will expire at 11 a.m. ET on Jan. 12.

Tender instructions may be withdrawn only in limited circumstances.

Concurrently with the tender offer, the company launched a €430 million offering of five-year senior secured notes, with proceeds to go toward funding the tender offer.

Q-Park’s acceptance for purchase of any notes tendered under the offer is subject to completion of the offering of new notes, among other things.

Holders who tender their existing notes under the offer may receive priority allocation in regard to the new notes.

Settlement of the tender offer is expected to occur on Jan. 18.

BofA Securities Europe SA (+33 1 877 01057 or DG.LM-EMEA@bofa.com) and KKR Capital Markets (Ireland) Ltd. (+353 1 4757499 or steven.endersen@kkr.com) are the dealer managers.

Bank of New York Mellon, London Branch (+44 1202 689644 or corpsov1@bnymellon.com) is the tender agent.

The parking garage operator is based in Maastricht, Netherlands.

© 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.