Arena to redeem 2 7/8% notes due 2024, floaters due 2027

By Rebecca Melvin

New York, Jan. 21 – Arena Luxembourg Finance Sarl, a financing arm of Arena Luxembourg Investments Sarl, is offering to redeem in full the issuer’s €350 million principal amount of 2 7/8% senior secured notes due 2024 (Rule 144A ISIN: XS1577950238; Regulation S ISIN: XS1577948174) and €125 million principal amount of senior secured floating-rate notes due 2023 (Rule 144A ISIN: XS1577951806; Regulation S ISIN: XS1577950154).

Concurrently with the tender offer, Arena is planning to price €575 million of fixed-rate notes due 2028 and floating-rate notes due 2027 on behalf of Spain’s Empark. The proceeds will be used to fund the redemption.

The issuer has elected to redeem 10% of the outstanding 2 7/8% notes and all the outstanding floating-rate notes on Jan. 31.

It is intended that €35 million of the outstanding 2 7/8% notes will be redeemed at a redemption price of 103% of the principal amount thereof, plus accrued and unpaid interest of €251,562.50; and all of the floaters will be redeemed at 100% of the principal amount plus accrued and unpaid interest of €830,729.17.

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