ServiceMaster to redeem all $487.5 million of 7% notes on Aug. 17

By Toni Weeks

San Luis Obispo, Calif., July 16 – ServiceMaster Co. LLC said it will redeem all of its outstanding $487.5 million of 7% senior notes due 2020 on Aug. 17.

The company will pay 105.25% of par plus accrued interest up to but excluding the redemption date, according to an 8-K filing with the Securities and Exchange Commission.

Redemption of the notes is subject to conditions, including the completion of financing, which may include additional commitments under the company’s term loan facility due 2021.

ServiceMaster said it will have the right to delay the redemption until Sept. 14 in order to allow the conditions to be satisfied.

ServiceMaster is a Memphis-based provider of maintenance services to residential and commercial customers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.