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EWOS calls to redeem €225 million 6¾% notes, NOK 1.81 billion floaters
By Susanna Moon
Chicago, Oct. 5 – EWOS Holding AS said it called €90 million of its €225 million 6¾% senior secured notes due 2020 and NOK 724 million of its NOK 1.81 billion senior secured floating-rate notes due 2020.
The notes will be redeemed on Oct. 15 at a price of 106.75 for the 6¾% notes and at a price of par for the floaters, according to a company notice. The record date is Oct. 14.
The aggregate redemption amount for the 6¾% notes will be €98,842,500.00, or €96,075,000 plus €2,767,500 in accrued interest.
The aggregate redemption amount for the floaters will be NOK 778,939,533.33, or NOK 769,467,200 plus NOK 9,472,333.33 in accrued interest.
In a separate notice, the company called the remaining €135 million of the 6¾% notes and NOK 1,086,000,000 of the floaters for redemption on Oct. 19 with a record date of Oct. 16.
For the second call, the purchase price will be €152,883,720 for the 6¾% notes, or €148,631,220 plus €4,252,500 in accrued interest, and NOK 1,204,224,795.67 for the floaters, which consists of NOK 1,189,258,509 and NOK 14,966,286.67 in accrued interest.
The redemption is conditioned upon the closing of the sale of all of the share capital of EWOS Group AS under a share purchase agreement with Cargill, Inc. as buyer, by Dec. 4, the company said in the two separate call notices.
The call also is conditioned on the contribution of about NOK 1,713,644,000 as subordinated shareholder funding or to the equity of the issuer, the company noted.
If the closing of the transactions occur at least 10 days but no more than 60 days after the call notice, the issuer said it may postpone the redemption date to a date which is not less than 10 days but no more than 60 days after the call date, as long as the redemption date is not be later than 10 days after the closing of the transactions.
EWOS is a Bergen, Norway-based producer of feed for farm-raised fish.
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