Copenhagen, 2014-04-03 15:09 CEST (GLOBE NEWSWIRE) --
No. 15/2014
Following the successful completion of the Initial Public Offering of ISS A/S and with reference to announcement no. 3 of 13 March 2014, ISS will continue its previously announced repayment of existing debt by announcing a redemption in full of the remaining outstanding Senior Subordinated Notes Due 2016 (ISIN XS0253470644). The redemption will take place on 15 May 2014 using a portion of the net proceeds from the Initial Public Offering.
Repaying the most expensive part of the Company’s debt contributes to a further simplified capital structure and strengthened cash flow. A principal amount of EUR 256.3 million in aggregate will be redeemed at 100% of the principal amount, plus accrued and unpaid interest. The redemption of the notes, which carry a coupon of 8.875%, will save ISS approximately DKK 170 million in interest expenses on an annual basis.
Further details may be found in the attached notice of redemption which is distributed to noteholders in accordance with the indenture.
For media enquiries
Kenth Kærhøg, Head of Group Communications, +45 38 17 62 05
Manuel Vigilius, Global Media Relations Manager, +45 38 17 64 04
For investor enquiries
Barbara Plucnar Jensen, Head of Group Treasury, +45 38 17 62 60
Martin Kjær Hansen, Treasury Manager, +45 38 17 64 31
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About ISS The ISS Group was founded in Copenhagen in 1901 and has grown to become one of the world’s leading Facility Services companies. ISS offers a wide range of services such as: Cleaning, Catering, Security, Property and Support Services as well as Facility Management. Global revenue amounted to DKK 78.5 billion in 2013 and ISS has more than 530,000 employees and local operations in more than 50 countries across Europe, Asia, North America, Latin America and Pacific, serving thousands of both public and private sector customers. For more information on the ISS Group, visit www.issworld.com. |
