IFCO Systems calls €64.3 million 10% notes, plans new share issuance

By Toni Weeks

San Diego, May 27 - IFCO Systems NV has issued a call to redeem €64.3 million, or about 33%, of its 10% guaranteed senior secured notes due 2016 on June 29, according to an announcement.

The redemption will be funded with cash acquired by the issuance of 5,121,724 ordinary registered shares to Brambles Investment Ltd. for €72.68 million and the sale and transfer, also to Brambles, of 304,633 ordinary fully paid-up treasury shares for €4.32 million.

IFCO is an Amsterdam-based logistics provider.

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