Arena Luxembourg to price €575 million notes due 2028, 2027

By Rebecca Melvin

New York, Jan. 21 – Empark announced an offering €575 million of fixed-rate notes due 2028 and floating-rate notes due 2027, according to a release.

The issuer of the notes is Arena Luxembourg Finance Sarl, a financing arm of Arena Luxembourg Investments Sarl.

The proceeds of the notes, together with cash on hand, will be used to fund the redemption in full of the issuer’s €350 million of 2 7⁄8% senior secured notes due 2024 and €125 million of senior secured floating rate notes due 2023 and to pay a distribution to shareholders of Arena Luxembourg Investments.

The floaters will bear interest at a rate per annum, reset quarterly, equal to three-month Euribor plus a margin.

Madrid-based Empark is an Iberian parking infrastructure company.

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