Loxam calls €110.7 million of 4 7/8% senior secured notes due 2021

New York, July 28 – Loxam SAS will redeem €110.7 million, or 27%, of its €410 million of outstanding 4 7/8% senior secured notes due 2021 on Aug. 7, according to a notice from the issuer.

The company will pay 102.438% of par plus accrued interest for the notes.

Funding for the redemption will come from available cash, according to a news release.

The repayment of the notes will lower annual interest expense by €5.5 million, the company said.

Loxam is a Paris-based equipment rental company.

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