Ren10 to redeem €350 million secured floaters due 2027

By Mary-Katherine Stinson

Lexington, Ky., March 1 – Ren10 Holding AB issued a conditional notice of redemption for its €350 million senior secured floating-rate notes due 2027 (ISIN: XS2439087441, XS2439087367).

The notes will be redeemed at par plus accrued interest from Feb. 1. The aggregate redemption amount is expected to be €353,216,500, which includes accrued interest totaling €3,216,500.

Subject to the satisfaction or waiver of the financing condition, the redemption date will be the later of March 12 and, if the financing condition has not been satisfied or waived on or prior to March 11, no more than 60 days following.

The record date will be the business day immediately prior to the redemption date.

The redemption is conditioned on Ren10 receiving an amount sufficient to cover the redemption plus the related expenses, along with amounts outstanding under its €200 million term loan facility.

Ren10 is an entity set up to acquire the Finland-based equipment rental company Renta Group Oy. Renta is owned by funds managed by the private equity group, IK Partners.

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