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Prospect News home > News index > List of issuers T > Headlines for Together Financial Services Ltd. > News item
Published on 9/14/2018 in the Prospect News High Yield Daily.

Together Financial to sell £350 million five-year PIK toggle notes

By Paul A. Harris

Portland, Ore., Sept. 14 – Bracken Midco1 plc, the indirect parent of Together Financial Services Ltd., announced in a Friday press release that it intends to offer £350 million senior PIK toggle notes due 2023 via Rule 144A and Regulation S.

Proceeds, together with cash from Together Financial Services Ltd., will be used to repurchase or redeem the senior PIK toggle notes due 2021, as well as to provide Bracken Topco Ltd. with the funds required to pay off outstanding vendor notes and make a distribution to Topco's shareholder, including payment of accrued interest on certain shareholder debt and making a dividend payment to shareholders.

The prospective issuer is a Lake View, Lakeside, Cheadle, U.K.-based financial services provider.


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