Signet Jewelers prepays $50.9 million to noteholders under agreement

By Lisa Kerner

Charlotte, N.C., March 9 - Signet Jewelers Ltd. made a $50.9 million prepayment at par to its noteholders under its amended note purchase agreement, according to a company news release.

There is $229.1 million of notes outstanding, Signet said.

As previously reported, Signet entered into amended borrowing agreements to prepay $100 million of its $380 million private placement notes at par plus accrued interest on March 18, 2009 and to make prepayment offers in February of 2010, 2011, 2012 and 2013.

The term series purchase agreement was entered into on March 30, 2006.

The original note purchase agreement took the form of fixed-rate investor certificate notes. The notes represent seven-, 10- or 12-year maturities, with $100 million series A 5.95% due 2013, $150 million series B 6.11% due 2016 and $130 million series C 6.26% due 2018.

Signet is a specialty retail jeweler based in Hamilton, Bermuda.

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