SMCP : Partial redemption of the Senior Secured No
Post# of 301275
SMCP further optimizes its capital structure
Partial redemption of the Senior Secured Notes for a total amount of €20.0m
As part of its continued focus on optimizing its capital structure and pursuing its deleveraging, SMCP (the "Company") announces today the partial redemption of the senior secured notes due 2023 (the "2023 Notes") issued by SMCP Group S.A.S. for an amount equal to 10% of the principal (representing €20.0 million), taking advantage of its attractive cost of financing.
Through this redemption, SMCP further strengthens its capital structure, providing additional financial flexibility to pursue the execution of its growth strategy.
The partial redemption of the 2023 Notes, in principal aggregate amount of €20.0 million, plus accrued and unpaid interest (equivalent to 10% of the outstanding 2023 Notes) has been funded by drawing on the RCF, put in place at the IPO.
This partial redemption is subject to certain conditions, the satisfaction of which the Company will communicate in due course. The redemption date is expected to occur on May 19, 2018 with an effective redemption date on May 22, 2018 due to the intervening non-business days.
Holders of 2023 Notes are urged to refer to the notice of conditional redemption for more information regarding the conditions precedent thereof, redemption price, record date and redemption date available on the official website of the Luxembourg Stock Exchange, www.bourse.lu as well as the website of the Company (www.smcp.com; Finance mini-site).
DISCLAIMER: FORWARD-LOOKING STATEMENTS
This document contains certain forward-looking statements. Forward-looking statements are based upon the expectations and plans of the Company's management team and are subject to a number of risks and uncertainties, the occurrence of which may yield results that differ materially from the objectives expressed in such forward-looking statements. As a result, we caution you that forward-looking statements are not guarantees of future performance. For more information regarding the risks and uncertainties that the Company faces in operating its business, please see the periodic reporting that the Company has filed with the Autorité des marchés financiers as regulated information, available on the website of the Company (www.smcp.com).
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