Eden Springs to exchange €35 million of €76.3 million notes tendered

New York, Jan. 29 – Eden Springs said that it will accept €35 million of the €76.3 million of floating-rate senior secured notes due 2019 issued by Hydra Dutch Holdings 2 BV that were tendered in its exchange offer.

A scaling factor of 46.41% will be applied to notes tendered, according to a notice from the company.

All €76.3 million of the notes to which the scaling factor will be applied were tendered as priority applications because the holders subscribed to new notes in the concurrent cash sale.

No tenders were accepted from holders who did not subscribe to new notes for cash.

Eden Springs said that it issued €160 million of new 8% notes on Thursday via Hydra Dutch, made up of €35 million from the exchange offer and €125 million sold for cash.

Eden Springs also paid a total amount of €75,827.50 of accrued interest in the exchange.

Following completion of the exchange, €175 million of the floating-rate notes remain outstanding.

As previously announced, the new notes were priced on Jan. 21 with an 8% coupon.

The senior secured notes mature on April 15, 2019 and are callable beginning Feb. 1, 2016 at 2014.

Notes sold for cash were priced at 97.41.

The exchange offer ended at 12 p.m. ET on Jan. 28.

Credit Suisse Securities (Europe) Ltd. (+44 20 7883 8763 or liability.management@credit-suisse.com) is dealer manager and Lucid Issuer Services Ltd. (+44 20 7704 0880 or hydra@lucid-is.com) is exchange agent and information agent.

The exchange is being conducted under Regulation S and in the United Kingdom is only open to professional investors. The new notes will be sold under Rule 144A and Regulation S.

Eden Springs is a provider of water and coffee in Europe and Israel. It is based in Preverenges, Switzerland.

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