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Published on 10/25/2022 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Intertrust to redeem €500 million 3 3/8% notes due 2025 at 100.844

By William Gullotti

Buffalo, N.Y., Oct. 25 – Intertrust Group BV will fully redeem its €500 million 3 3/8% senior notes due 2025 (ISINs: XS1904250708, XS1904250963), according to a notice on Tuesday.

The redemption is conditioned upon the satisfaction or waiver of Intertrust’s ability to pay the €504.22 million required to redeem the notes at 100.844. The condition must be satisfied or waived by no later than 5 a.m. ET on Nov. 15.

If the condition has been satisfied or waived prior to the above deadline, the redemption will take place on Nov. 15. Otherwise, it will occur the day immediately following the satisfaction or waiver as long as it occurs within 60 days from the date of the notice.

According to the notice and assuming the redemption occurs Nov. 15 as scheduled, there will be no accrued and unpaid interest included with the payment.

The 2018-issued notes must be surrendered for redemption to the paying agent, Deutsche Bank AG, London Branch.

Intertrust is an Amsterdam-based tax consultancy services provider.


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