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Viridian to redeem 7½% notes due 2020 with proceeds of new deal
New York, Sept. 11 – Viridian Group Ltd. said that it plans to redeem the €540 million of 7½% senior secured notes due 2020 issued by Viridian Group FundCo II Ltd. using proceeds from an offering of new notes.
The company announced on Monday that Viridian Group FinanceCo plc and Viridian Power and Energy Holdings DAC will offer €600 million of senior secured notes in a sterling tranche due 2024 and a euro tranche due 2025.
Proceeds will also be used to pay a £60 million dividend to Viridian Topco Ltd. and to pay costs, expenses and fees.
Viridian previously redeemed €60 million of the 7½% notes on Aug. 29.
Viridian is a Belfast, U.K.-based supplier of electricity and natural gas to Northern Ireland and Ireland.
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