Premier Foods plc PRICING OF SENIOR SECURED FLOATING RATE NOTES (6067F)
19 May 2017 - 2:55AM
UK Regulatory
TIDMPFD TIDMIRSH
RNS Number : 6067F
Premier Foods plc
18 May 2017
18 May 2017
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR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.
Premier Foods plc
PRICING OF GBP210,000,000 SENIOR SECURED FLOATING RATE NOTES
TO BE ISSUED BY PREMIER FOODS FINANCE PLC
Further 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 GBP210,000,000 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.
Upon completion of the offering, the gross proceeds of the
offering will be used, together with cash on hand, (i) to redeem
GBP175,000,000 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 GBP35,000,000 and reduce the maximum capacity available under
such facility by GBP35,000,000, and (iii) to pay certain
administrative costs, expenses and fees in connection with the
offering.
For further information, please contact:
Institutional investors and
analysts:
Alastair Murray, Chief Financial +44 (0) 1727
Officer 815 850
Richard Godden, Head of Investor +44 (0) 1727
Relations 815 850
Media enquiries:
Richard Johnson, Corporate Affairs +44 (0) 1727
Director 815 850
Marisa Fitch, Head of External +44 (0) 1727
Affairs 815 850
+44 (0) 20 7379
Maitland 5151
Kate O'Neill
Tom Eckersley
THIS 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
STATES (AS DEFINED IN THE U.S. SECURITIES ACT OF 1933, AS AMENDED
(the "SECURITIES ACT")), OR IN ANY OTHER JURISDICTION.
Any securities referred to in this announcement have not been
and will not be registered under the Securities Act, or with any
securities regulatory authority of any state or other jurisdiction
of the United States, and may not be offered, sold, resold,
pledged, taken up, delivered, distributed or transferred, directly
or indirectly, into or within the United States except pursuant to
an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and in compliance
with any applicable securities laws of any state or other
jurisdiction of the United States. No public offering of any
securities is being made in the United States.
This announcement may contain "forward-looking statements" that
are based on estimates and assumptions and are subject to risks and
uncertainties. Forward-looking statements are all statements other
than statements of historical fact or statements in the present
tense, and can be identified by words such as "targets", "aims",
"aspires", "assumes", "believes", "estimates", "anticipates",
"expects", "intends", "hopes", "may", "would", "should", "could",
"will", "plans", "predicts" and "potential", as well as the
negatives of these terms and other words of similar meaning. Any
forward-looking statements in this announcement are made based upon
Premier Foods' estimates, expectations and beliefs concerning
future events affecting the Group and subject to a number of known
and unknown risks and uncertainties. Such forward-looking
statements are based on numerous assumptions regarding the Group's
present and future business strategies and the environment in which
it will operate, which may prove not to be accurate. Premier Foods
cautions that these forward-looking statements are not guarantees
and that actual results could differ materially from those
expressed or implied in these forward-looking statements. Undue
reliance should, therefore, not be placed on such forward-looking
statements. Any forward-looking statements contained in this
announcement apply only as at the date of this announcement and are
not intended to give any assurance as to future results. Premier
Foods will update this announcement as required by applicable law,
including the Prospectus Rules, the Listing Rules, the Disclosure
and Transparency Rules, London Stock Exchange and any other
applicable law or regulations, but otherwise expressly disclaims
any obligation or undertaking to update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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