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Enterprise Inns mulls £200 million secured notes offer to help fund tender for 6½% notes
By Paul A. Harris
Portland, Ore., Sept. 22 – Enterprise Inns plc announced in a Monday press release that it plans to place a minimum of £200 million fixed-rate secured notes (/BB-) as part of the financing for a tender offer on its £600 million of 6½% secured bonds due 2018.
No further details were available at press time regarding the structure of the new notes, the timing or the underwriters.
Deutsche Bank AG, London Branch and Royal Bank of Scotland plc are dealer managers for the tender offer, which expires on Sept. 29.
The new bond deal will go forward only on the condition that demand for the new notes comes to a minimum of £200 million, the Monday news release stated.
The prospective issuer is a Solihull, England-based leased and tenanted pub company.
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