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Enodis to back remaining 10 3/8% notes with Gilts and cash
New York, July 7 - Enodis plc said it will put enough Gilts and cash in a trust to meet all the principal and interest payments on its remaining £23 million of 10 3/8% notes due 2012 up to their first redemption date.
The move was part of a capital reduction approved by the High Court on July 6, according to a 6-K filing with the Securities and Exchange Commission. Enodis gave an undertaking to the court that it will protect existing creditors before it pays a dividend.
In June, Enodis bought £76.983 million of its £100 million 10 3/8% notes in a tender offer.
Enodis is a London-based maker of commercial food preparation equipment.
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