Inovyn calls 6¼% senior secured notes due 2021 for redemption

New York, Oct. 24 – Inovyn Finance plc will redeem its €240 million of 6¼% senior secured notes due 2021 on Nov. 15, according to a notice.

The company will pay 103.125% of par plus accrued interest up to but excluding the redemption date.

Completion of the redemption is subject to the company raising sufficient funds in a refinancing to pay for the redemption.

If the refinancing condition is not met by Nov. 14 the redemption date will be postponed but to no later than Jan. 3.

Inovyn is raising an €829 million covenant-light term loan B and a €101 million amortizing term loan A due 2021. Proceeds will be used to reprice the company’s existing senior secured facilities and to redeem the notes.

Inovyn is a polyvinylchloride producer based in London.

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