Thursday, June 6, 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY PERSON LOCATED OR RESIDENT IN OR INTO JAPAN OR AUSTRALIA OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT
June 6, 2019
Cabot Credit Management Announces Pricing of €400 Million Senior Secured Notes Offering
West Malling, Kent—Cabot Credit Management Limited ("CCM") announced today that its 100% indirectly owned subsidiary Cabot Financial (Luxembourg) II S.A. (the "Issuer") had priced an offering of €400.0 million aggregate principal amount of Senior Secured Floating Rate Notes due 2024 (the "Notes") with a coupon of 6.375% plus three-month EURIBOR (subject to a 0% floor), reset quarterly, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States to certain non-U.S. persons pursuant to Regulation S under the Securities Act of 1933, as amended (the "Offering"). The gross proceeds of the Offering will be €400.0 million.
The gross proceeds of the Offering will be used, along with cash on hand, to redeem in full Cabot Financial (Luxembourg) S.A.’s £80 million senior secured notes due 2021 and pay accrued interest thereon, redeem in full the Issuer’s €310 senior secured floating rate notes due 2021 and pay premium and accrued interest thereon, and pay fees, expenses and commissions in relation to the offering of the Notes.
For media enquiries, please contact:
PR Manager, Cabot Credit Management
Tel: +44 (0) 7780 495082
Email: [email protected]
For Investor Relations:
Mr. Craig Buick
Chief Financial Officer, Cabot Credit Management
Tel: +44 1753 724049
Email: [email protected]
The statements in this press release that are not historical facts, including, most importantly, those statements preceded by, or that include, the words "may," "believe," "projects," "expects," "anticipates" or the negation thereof, or similar expressions, constitute "forward-looking statements" within the meaning of the securities laws of certain jurisdictions. These statements may include, but are not limited to, statements regarding the actual terms of the notes, the completion, timing and size of the proposed private offering, the anticipated use of proceeds from the offering. For all "forward- looking statements," CCM claims the protection of any available safe harbor for forward-looking statements contained in such securities laws. Such forward-looking statements involve risks, uncertainties and other factors which may cause actual results, performance or achievements of CCM and its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. CCM disclaims any intent or obligation to update these forward-looking statements. Given these risks and uncertainties, you should not rely on forward-looking statements as a prediction of actual results.
Important Regulatory Notice
This press release is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States of America or in any other jurisdiction. The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This announcement is being distributed only to, and is directed at (a) persons who have professional experience in matters relating to investments who fall within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order (all such persons together being referred to as "relevant persons"). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available only to or will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Persons distributing this announcement must satisfy themselves that it is lawful to do so.
The Euro MTF Market is not a regulated market pursuant to the provisions of Directive 2004/39/EC. There can be no assurance that the Issuer’s application for the listing of the Notes on the Luxembourg Stock Exchange and the Euro MTF market will be accepted.
MiFID II professionals/ECPs-only – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels).