26th Jul 2018 15:59
LONDON (Alliance News) - Power generation company ContourGlobal PLC said Thursday its subsidiary has closed an offering for EUR450.0 million of its 3.375% senior secured notes due 2023 and EUR300.0 million of its 4.125% senior secured notes due 2025.
The subsidiary, ContourGlobal Power Holdings SA, will use the proceeds from the offering to refinance its existing notes, to pay fees and premiums, and for "general corporate purposes".
ContourGlobal Power also said that it has settled the tender offer for its 5.125% senior secured notes due 2021, which expired on Tuesday. ContourGlobal Power agreed to purchase EUR383.7 million of the existing notes. All notes not purchased in the tender offer will be redeemed August 16.
Shares in ContourGlobal were down 0.8% at 238.00 pence on Thursday.
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