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Care UK Health & Social Care buys back £10.08 million floaters
By Toni Weeks
San Luis Obispo, Calif., April 1 – Care UK Health & Social Care plc announced it accepted tenders for all £10,075,000 of the second-lien floating-rate notes due 2020 tendered by the expiration of the company’s tender offer, 11 a.m. ET on March 31.
The company began the offer on March 23, offering to purchase up to £21.5 million principal amount of the outstanding £75 million of notes.
Care UK Health & Social Care Finance Ltd. conducted the tender offer, according to a company news release.
The company is paying 92.5% of par plus accrued interest up to but excluding the settlement date.
Holders needed to tender at least £100,000 of notes in order to participate.
The company noted that it sold some of the notes under Regulation S and some under Rule 144A, but the tender offer was only made for notes held under Regulation S.
The tender offer was subject to the satisfaction of some conditions.
The dealer manager was Credit Suisse Securities (Europe) Ltd. (+44 (0) 20 7888 5564 or liability.management@credit-suisse.com). The tender agent was Lucid Issuer Services Ltd. (+44 20 7704 0880 or careuk@lucid-is.com).
Care UK provides health and social care and is based in Colchester, England.
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