Cramo to prepay €15.8 million of 2.375% notes due 2022 on April 9

By Sarah Lizee

Olympia, Wash., March 20 – Cramo plc received prepayment requests for €15.8 million of its €150 million 2.375% notes due Feb. 28, 2022 (ISIN: FI4000232509), according to a press release.

On April 9, Cramo will prepay to holders who have requested prepayment par plus accrued interest up to but excluding the prepayment date, without any premium or penalty.

The prepaid notes will be cancelled, and the remaining outstanding principal amount of the notes will be €134.2 million.

As previously reported, Cramo announced on Nov. 11 that it had entered into a combination agreement with Boels Topholding BV under which Boels started a recommended public cash tender offer for all of the issued and outstanding shares in Cramo on Nov. 25.

Boels and Cramo announced the final results of the offer on Feb. 5, and the following day Cramo announced that the tender offer constituted a change of control for the notes.

Cramo is a rental services company based in Vantaa, Finland. Cramo Adapteo is the sub-brand for Cramo’s modular space operations.

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