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Safari buys back €400,000 of 8¼% notes in annual amortization offer
By Susanna Moon
Chicago, Feb. 23 – Safari Holding Verwaltungs GmbH said it repurchased €400,000 of its €235 million 8¼% senior secured notes due 2021 in the offer that ran until noon ET on Feb. 8.
After the repurchase on Feb. 15, there is €234.6 million of the notes left outstanding, according to a company notice.
Safari said on Jan. 11 that it had begun a mandatory amortization offer for up to €23.5 million, or 10%, of the 8¼% notes.
As previously announced, the issuer is required to offer to repurchase the notes at par plus accrued interest each year, on the date falling 25 business days prior to Feb. 15.
Deutsche Trustee Co. Ltd. is the trustee, and Deutsche Bank AG, London Branch is the paying agent.
As announced before, the company also ran the required amortization offer to repurchase the same amount of the 8¼% notes on Jan. 12, 2015.
In the most recent offer, the repurchased notes were canceled.
Safari is an arcade operator based in Bingen Am Rhein, Germany.
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