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Intrum will proceed with redemption of 3 1/8% notes on Dec. 17
By Mary-Katherine Stinson
Lexington, Ky., Dec. 15 – Intrum AB will go ahead with its planned redemption of €431 million of its €900 million 3 1/8% senior notes due 2024 (ISIN: XS1634532748, XS1634534017) on Dec. 17, according to a notice.
The issuer had released a conditional notice of redemption for the notes on Dec. 7, subject to a financing condition being met, namely, that the issuer receives the necessary funds for the redemption.
The Regulation S and Rule 144A notes will be redeemed at par plus accrued interest.
The total redemption price will be €436,686,806, which includes €5,686,806 in interest.
Interest will cease to accrue on and after the redemption date.
Citibank, NA, London Branch is the trustee.
The redemption will be funded by the issuance of Intrum’s new €450 million 9¼% long five-year senior notes, which priced on Dec. 7 at 97.02. The transaction is expected to close on Dec. 14.
Intrum is a Stockholm-based credit management company.
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