Copenhagen, 2013-07-05 11:08 CEST (GLOBE NEWSWIRE) --
On 3 June 2013, ISS issued notices to its Noteholders of an excess proceeds offer and a conditional partial redemption of its EUR 581.5m 8.875% Senior Subordinated Notes due 2016.
Today, ISS advises that the offer period has expired, resulting in Noteholders having chosen to tender an aggregate principal amount of EUR 45,517,000. The partial redemption was conditional on the result of the excess proceeds offer, and ISS will thus redeem an aggregate principal amount of EUR 186,459,000 of the Notes. Upon the settlement of the excess proceeds offer and the partial redemption of the Notes on Monday 8 July 2013 an aggregate principal amount of EUR 349,524,000 of Notes will remain outstanding.
Henrik Andersen, Group CFO, ISS A/S, said:
“Following the closing of the sale of our pest control activities in 12 countries, we are now moving ahead with a partial redemption of some of our outstanding notes. As earlier announced we have decided to use the proceeds from this divestment to further deleverage ISS. As we are using the proceeds against the most expensive part of our debt, this deleverage will eliminate interest payments of more than DKK 150 million annually.”
Please find further details attached.
For enquiries
Media: Kenth Kærhøg, Head of Group Communications, +45 38 17 62 05
Investors: Barbara Plucnar Jensen, Head of Group Treasury, +45 38 17 62 60
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 almost DKK 80 billion in 2012 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.
ISS A/S, CVR 28 50 47 99, ISIN XS0253470644
ISS Global A/S, ISIN XS0206714247
