BL Superstores calls some class A2, B2 bonds via asset sale proceeds

By Susanna Moon

Chicago, March 4 – BL Superstores Finance plc notified holders that it plans to exercise its option for a partial redemption of its class A2 and class B2 bonds using proceeds of an asset sale.

The notice was sent to holders of the class A2 4.482% bonds due 2030, class B2 5.27% bonds due 2030 and class B3 5.578% bonds due 2030.

BL Superstores plans to redeem £8,482,059.60 principal amount of the class A2 bonds on April 4 at £1,902.92 per principal amount, which consists of £1,643.81 principal and £259.11 premium, according to a notice by the issuer.

The company also plans to redeem £9,207,360 principal amount of the class B2 bonds on April 4 at £2,161.91 per principal amount, which consists of £1,918.20 principal and £243.71 premium.

The issuer said the stores at Altrincham and Northallerton were sold under the provisions of the intercompany loan agreement.

The principal amounts prepaid on the class A2 bonds and class B2 bonds will be applied to reduce the remaining bond amortization amounts in respect of each of the class A2 bonds and class B2 bonds pro rata, the company noted.

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