24 May 2017
LONDON, May 24, 2017 – KIRS Finco plc, formerly TIG Finco plc, (the “Issuer”) today announced a June 23, 2017 redemption date (the “Redemption Date”) for the redemption in full of its £425,000,000 8.75% Senior Secured Notes due 2020 (the “Senior Secured Notes”) and £75,000,000 Floating Rate Super Senior Secured Notes due 2020 (the “Super Senior Secured Notes”, and together with the Senior Secured Notes, the “Notes”).
The redemption price of the (i) Senior Secured Notes is 101% of £425,000,000 in aggregate principal amount of Senior Secured Notes to be redeemed in the amount of £429,250,000 (1010.00 per £1,000 principal amount of Senior Secured Notes), plus accrued and unpaid interest from May 15, 2017 to the Redemption Date, and Additional Amounts (as defined in the indenture governing the Senior Secured Notes), if any and (ii) Super Senior Secured Notes is 102% of £75,000,000 in aggregate principal amount of the Super Senior Secured Notes to be redeemed in the amount of £76,500,000 (£1020.00 per £1,000 principal amount of Super Senior Secured Notes), plus accrued and unpaid interest from April 15, 2017 to the Redemption Date, and Additional Amounts (as defined in the indenture governing the Super Senior Secured Notes), if any.
The Issuer’s obligation to redeem any of the Notes on the Redemption Date is conditioned upon (i) the necessary funds having been received by and made available to the Issuer to redeem the Notes in full and pay all related expenses, (ii) the satisfaction and discharge of the Notes on or prior to the Redemption Date and (iii) the Issuer acquiring the entire issued share capital of Nevada Investments Topco Limited (Cayman) including all of its subsidiaries and newly acquired assets on or prior to the Redemption Date.
This announcement contains inside information by KIRS Finco plc under Regulation (EU) 596/2014 (16 April 2014).
Forward Looking Statements
This press release may include “forward looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements can be identified by the use of forward looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “intends,” “may,” “will” or “should” or, in each case, their negative, or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding the intentions, beliefs or current expectations of KIRS Group and its shareholders. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward looking statements are not guarantees of future performance and that actual facts may differ materially from the forward looking statements contained in this press release. Given these risks and uncertainties, you should not rely on forward looking statements as a prediction of actual results.
Justin Griffiths or Victoria Heslop - PR advisers to Towergate