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Finland’s Paroc makes contingent call for 6¼% secured notes due 2020
By Susanna Moon
Chicago, May 2 – Paroc Group Oy issued a conditional redemption notice for its €200 million of 6¼% senior secured notes due 2020.
The notes will be redeemed on May 15 at 101.563% of par plus accrued and unpaid interest and any additional amounts to but excluding the redemption date, assuming the conditions are met, according to a company announcement.
The aggregate redemption amount is expected to be €205,188,480, which comprises 101.563% of the €196 million principal amount, or €199,063,480, plus accrued interest and additional amounts of €6,125,000.
The Bank of New York Mellon, London Branch is the trustee and paying agent.
Paroc is a Helsinki, Finland-based manufacturer of wool insulation. The company operates chiefly in the Baltic Sea region.
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