Target Hospitality’s Arrow calls $125 million of 9˝% notes due 2024

By Marisa Wong

Los Angeles, Feb. 28 – Target Hospitality Corp. announced that indirect subsidiary Arrow Bidco, LLC will redeem $125 million of its outstanding 9˝% senior secured notes due 2024 on March 15.

The notes will be redeemed at par plus accrued interest to but excluding the redemption date, according to a press release.

The company said it has remained focused on reducing total debt, which has materially strengthened its balance sheet and maximized financial flexibility, and that the partial redemption of the notes has advanced these objectives, while simultaneously accelerating value creation.

The Woodlands, Tex.-based Target Hospitality is a food service management, concierge, laundry, logistics, security and recreational facilities services provider.

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