Mena Report

United Kingdom : Viridian Group Financeco PLC and Viridian Power and Energy Holdings Dac Announce Launch of Senior Secured Notes Offering

Viridian Group FinanceCo PLC and Viridian Power and Energy Holdings DAC (together, the Issuers) today announced the offering of 600,000,000 (equivalent) aggregate principal amount of senior secured notes comprising of sterling denominated senior secured notes due 2024 and euro denominated senior secured notes due 2025 (together, the Notes).

The proceeds from the offering, if completed, will be used together with amounts received in relation to the settlement of certain forward foreign exchange contracts and cash on balance sheet, to redeem in full 540,000,000 aggregate principal amount of 7% Senior Secured Notes due 2020 issued by Viridian Group FundCo II Limited, the indirect parent of the Issuers, including the payment of the applicable redemption premium and accrued but unpaid interest, pay a dividend in the amount of 60 million to Viridian Topco Limited and pay costs, expenses and fees in connection with the foregoing. …

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