21 December 2018
BOPARAN HOLDINGS LIMITED ANNOUNCES PARTIAL CANCELLATION AND REDEMPTION OF ITS 5.25% SENIOR NOTES DUE 2019
21 December 2018
Boparan Holdings Limited (the “Company”) today announced that its wholly-owned subsidiary, Boparan Finance plc has delivered a notice to the trustee for its 5.25% Senior Notes due 2019 (Rule 144A ISIN No. XS108247355l and Common Code 108247355 and Reg S ISIN No. XS1082472157 and Common Code 108247215) (the “Notes”) under which it called for partial redemption on December 31, 2018 (the “Redemption Date”) of £68,050,000.00 aggregate principal amount of outstanding Notes.
The notes will be redeemed at a redemption price of 100.000% of the principal amount thereof plus accrued and unpaid interest on the Notes to be redeemed on the Redemption Date. The funds to be used for the redemption will be funds on the Company’s balance sheet.
Selection of the Notes for redemption will be made by the trustee or the registrar in accordance with the terms of the indenture governing the Notes (the “Indenture”) based on a pro rata basis or on a method that most nearly approximates a pro rate selection, unless otherwise required by law or applicable stock exchange or depositary requirements.
The Company has also recently completed open market repurchases of £26,950,000.00 aggregate principal amount of outstanding Notes, which will be cancelled today in accordance with the terms of the Indenture.
This press release does not constitute an offer to purchase or redeem, or a solicitation of an offer to sell, the Notes.
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About Boparan Holdings:
Boparan Holdings is the parent company for 2 Sisters Food Group with headquarters in Birmingham. We are a leading food manufacturer with strong market positions in Protein, Chilled, Bakery and Frozen categories. We focus on delivering the highest quality products to our customers at the lowest cost.
This announcement contains forward-looking statements in relation to Boparan Holdings Limited (the “Company”) and its subsidiaries. By its very nature, forward-looking information requires the Company to make assumptions that may not materialise or that may not be accurate. Forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.