Merlin Entertainments plc USD 400m Notes 2026 - Closing (6843N)
May 10 2018 - 6:52AM
UK Regulatory
TIDMMERL
RNS Number : 6843N
Merlin Entertainments plc
10 May 2018
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF Merlin Entertainments plc. NOT FOR RELEASE,
DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF
SOUTH AFRICA, THE UNITED STATES OF AMERICA OR ANY OTHER
JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
FOR IMMEDIATE RELEASE
10 May 2018
Merlin Entertainments plc
Merlin Entertainments plc completes its offering of its $400
million 5.75% senior notes due 2026
Merlin Entertainments plc ("Merlin" or the "Company"), today
announces that it has closed its offering (the "Offering") of $400
million aggregate principal amount of U.S. dollar denominated 5.75%
senior notes due 2026 (the "Notes"). The Notes bear interest at an
annual rate of 5.75% and were issued at 100% of their nominal
value.
The Notes were offered in a private placement and there will be
no public offering of the Notes. The Notes were offered and sold
only to qualified institutional buyers in accordance with Rule 144A
under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act") and to non-U.S. persons outside the United States
in accordance with Regulation S under the U.S. Securities Act.
Proceeds of the issuance were used to repay the two term loans,
and reduce the drawing on the revolving credit facility, referred
to in the announcement of 19 April 2018. Following the transaction,
Merlin's facilities are therefore as follows:
-- GBP600 million multi-currency revolving credit facility maturing in April 2023;
-- EUR700 million of notes maturing in March 2022;
-- $400 million of notes maturing in May 2026.
Anne-Francoise Nesmes, Chief Financial Officer of Merlin,
said:
"We are pleased to announce the successful completion of the
refinancing, which included our debut US bond offering. Our new
financing structure improves our cash efficiency and extends our
debt maturity profile, with our overall financing costs unchanged.
We welcome the support that we have received from both the bond and
bank markets, reflecting continued investor confidence in our
business".
Lazard & Co., Limited provided independent advice to Merlin
in relation to the refinancing.
Important notice
This press release shall not constitute an offer of securities
for sale in the United States or any other jurisdiction. The
securities have not been, and will not be, registered under the
U.S. Securities Act or the securities laws of any state of the
United States or any other jurisdiction and the securities may not
be offered or sold within the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and applicable
state or local securities laws.
This announcement is for information purposes only and is
directed only at persons who are: (1) located outside the United
States and are (a) persons in member states of the European
Economic Area (the "EEA") who are qualified investors (as defined
in EU Prospectus Directive 2003/71/EC (as amended, including by EU
Directive 2010/73/EU to the extent implemented in the relevant
member state); (b) persons in the United Kingdom who are qualified
investors and who are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); or (ii) persons
falling within Article 49(2) (a) to (d) ("high net worth companies,
unincorporated associations, etc.") of the Order; or (iii) persons
to whom it may otherwise be lawfully communicated or (2) reasonably
believed to be "qualified institutional buyers" (as defined in Rule
144A under the U.S. Securities Act) (all such persons in (1) and
(2) together being referred to as "relevant persons"). This
announcement must not be acted on or relied on by persons who are
not relevant persons. Any investment or investment activity to
which this announcement relates is available only to relevant
persons and will be engaged in only with relevant persons.
This announcement contains inside information within the meaning
of Regulation (EU) No 596/2014 of 16 April 2014 on market
abuse.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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