HSS Hire Group PLC Notice of conditional redemption (9801S)
29 June 2018 - 4:00PM
UK Regulatory
TIDMHSS
RNS Number : 9801S
HSS Hire Group PLC
29 June 2018
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation (EU) 596/2014 ("Market
Abuse Regulation") and is disclosed in accordance with the
obligations of HSS Hire Group plc under Article 17 of the Market
Abuse Regulations.
HSS FINANCING PLC ANNOUNCES THE CONDITIONAL REDEMPTION OF
GBP136,000,000 AGGREGATE PRINCIPAL AMOUNT OF ITS 6.750% SENIOR
SECURED NOTES DUE 2019
LONDON-Friday, June 29, 2018
HSS Financing plc (the "Issuer") today announced that it has
issued a notice of conditional redemption (the "Redemption") with
respect to the entire aggregate principal amount of the Issuer's
6.75% Senior Secured Notes due 2019 outstanding, being
GBP136,000,000 (the "Notes"). The Notes were issued pursuant to the
indenture dated as of February 6, 2014, and supplemented by the
supplemental indenture dated July 6, 2017 (the "Indenture").
The Notes will, subject to satisfaction of the Condition (as
defined below), be redeemed on July 10, 2018 (the "Notes Redemption
Date") at a redemption price of 100.000% of the principal amount
thereof, plus accrued and unpaid interest on the Notes to the
applicable redemption date, in aggregate, GBP140,054,500.00 and
Additional Amounts (as defined in the Indenture), if any. The
accrued and unpaid interest up to, but excluding, the Notes
Redemption Date will be GBP4,054,500.00.
The Redemption will be subject to the Issuer's receipt on or
prior to the Notes Redemption Date of funds in an aggregate amount
sufficient to redeem the Notes (the "Condition") from the Issuer's
drawings under a new term loan facility. The Issuer reserves the
right to revoke this redemption notice if the Condition is not
satisfied.
Accordingly, none of the Notes will be deemed due and payable on
the Notes Redemption Date unless and until the Condition has been
satisfied or waived by the Issuer. There is no assurance that the
Condition will be satisfied or that the Redemption will occur.
Forward-Looking Statements
This press release may include "forward-looking statements" as
that term is defined in the U.S. Private Securities Litigation
Reform Act of 1995, such as statements that include the words
"expect," "estimate," "believe," "project," "plan," "anticipate,"
"should," "intend," "probability," "risk," "may," "target," "goal,"
"objective" and similar expressions or variations on such
expressions. These forward-looking statements include all matters
that are not historical facts and include statements regarding the
Issuer's or its affiliates' intentions, beliefs or current
expectations concerning, among other things, the Issuer's or its
affiliates' results of operations, financial condition, liquidity,
prospects, growth, strategies and the industries in which they
operate. By their nature, forward-looking statements involve risks
and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Readers are
cautioned that forward-looking statements are not guarantees of
future performance and that the Issuer's or its affiliates' actual
results of operations, financial condition and liquidity, and the
development of the industries in which they operate may differ
materially from those made in or suggested by the forward-looking
statements contained in this press release. In addition, even if
the Issuer's or its affiliates' results of operations, financial
condition and liquidity, and the development of the industries in
which they operate are consistent with the forward-looking
statements contained in this press release, those results or
developments may not be indicative of results or developments in
subsequent periods.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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June 29, 2018 02:00 ET (06:00 GMT)
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