Business
PRICING OF SENIOR SECURED FLOATING RATE NOTES
PRICING OF SENIOR SECURED FLOATING RATE NOTES.
About this update from Premier Foods Plc
[{"type":"text","content":"\n \nRNS Number : 6067F Premier Foods plc 18 May 2017 \n\n\n18 May 2017\n \nNOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.\n \n \nPremier Foods plc\n \nPRICING OF £210,000,000 SENIOR SECURED FLOATING RATE NOTES\nTO BE ISSUED BY PREMIER FOODS FINANCE PLC\n \nFurther to the announcement on 16 May 2017 of a proposed bond issue, Premier Foods plc (\"Premier Foods\") announced today the pricing of the offering by Premier Foods Finance plc (the \"Issuer\") of £210,000,000 senior secured floating rate notes due 2022, to be issued at par at three-month GBP LIBOR (floor: 0%) plus 500 bps, reset quarterly (the \"Notes\").The offering is subject to customary closing conditions and settlement is expected to occur on 5 June 2017. \n \nUpon completion of the offering, the gross proceeds of the offering will be used, together with cash on hand, (i) to redeem £175,000,000 in aggregate principal amount of the Issuer's senior secured floating rate notes due 2020, (ii) to prepay outstanding indebtedness under Premier Foods' revolving credit facility of up to £35,000,000 and reduce the maximum capacity available under such facility by £35,000,000, and (iii) to pay certain administrative costs, expenses and fees in connection with the offering.\n \nFor further information, please contact:\n \n\n\n\n\nInstitutional investors and analysts:\n\n\n\n\n\n\n\nAlastair Murray, Chief Financial Officer\n\n\n+44 (0) 1727 815 850\n\n\n\n\nRichard Godden, Head of Investor Relations\n\n\n+44 (0) 1727 815 850\n\n\n\n\n\n\n\n\n\n\n\n\nMedia enquiries:\n\n\n\n\n\n\n\nRichard Johnson, Corporate Affairs Director\n\n\n+44 (0) 1727 815 850\n\n\n\n\nMarisa Fitch, Head of External Affairs\n\n\n+44 (0) 1727 815 850\n\n\n\n\n\n\n\n\n\n\n\n\nMaitland\n\n\n+44 (0) 20 7379 5151\n\n\n\n\nKate O'Neill\n\n\n\n\n\n\n\nTom Eckersley\n\n\n\n\n\n\n\n \n \nTHIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE A PROSPECTUS OR ANY OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES IN THE UNITED...