Pinewood Group Limited (together with its subsidiaries, “Pinewood Group”) today announced that its wholly-owned subsidiary, Pinewood Finco plc (the “Issuer”), has priced an offering (the “Offering”) of £300,000,000 aggregate principal amount of its 6.375% Senior Secured Notes due 2032 (the “Notes”) at 100.000%.
We intend to use the proceeds from this Offering to fund the Concurrent Tender Offer (as defined in the Offering Memorandum) and pay fees and expenses related thereto. To the extent any outstanding 3⅝% Senior Secured Notes due 2027 (the “2027 Notes”) are not repurchased and cancelled in connection with the Concurrent Tender Offer, we intend to hold proceeds from the Notes offered on balance sheet (in cash or cash equivalents) until applied to repay the untendered or unaccepted 2027 Notes, which is currently anticipated to be at their stated maturity.
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