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B&M European Value Retail prices notes

26 January 2017 15:27

B&M European Value Retail has priced its offering of £250m aggregate principal amount of 4.125% senior secured notes due 2022.

The notes are being offered in connection with the refinancing of certain of the company's existing senior credit facilities.

The existing facilities will be replaced by new senior credit facilities, which will include a £300n term loan A facility and a £150m revolving credit facility.

The proceeds from the offering of the notes, together with the new term loan A facility and cash on hand, will be used to repay all amounts outstanding under the existing senior facilities, to pay fees and expenses associated with the refinancing, including the offering of the notes, and for general corporate purposes.

The notes will be senior secured obligations of the company and guaranteed by certain of its subsidiaries that will also guarantee its new senior credit facilities.

The notes are expected to be issued on 2 February.

At 3:27pm: (LON:BME) BM European Value Retail share price was +3.45p at 300.55p

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