INOVYN announces issuance of a notice for the second conditional redemption of €30,000,000 of its outstanding 6.250% Senior Secured Notes due 2021
INOVYN Finance plc (“INOVYN”) today announced that it has issued a notice for the conditional redemption (the “Redemption”) (subject to the satisfaction or waiver of the condition described below) of €30,000,000 of its outstanding 6.250% Senior Secured Notes due 2021 (the “Specified Notes”). The Redemption is incremental and in addition to the conditional redemption of €30,000,000 aggregate principal amount of INOVYN’s 6.250% Senior Secured Notes due 2021 announced by INOVYN on April 26, 2017 (the “Base Redemption”). If both the Base Redemption and the Redemption occur, the aggregate principal amount of the 6.250% Senior Secured Notes due 2021 outstanding will be €240,000,000.
Under the notice, the redemption of the Specified Notes is conditional upon (a) the completion of one or more financing transactions by INOVYN resulting in net proceeds available to INOVYN in a sufficient quantity to pay the redemption price for the Specified Notes and the notes to be redeemed in connection with the Base Redemption, including, in each case, any applicable premium, in full and to pay all related expenses on or before the relevant redemption date and (b) the completion of the Base Redemption or the waiver or satisfaction of all conditions to the Base Redemption. There can be no assurance that any of the financing transactions or the redemption of any of the 6.250% Senior Secured Notes due 2021 will be completed.