MU Finance plc Issues Notice of Redemption for All of its Outstanding US Dollar 8.375% Notes Due 2017
May 27 15
MU Finance plc has announced that it intends to issue a notice of redemption for all of its outstanding US dollar 8.375% notes due 2017 on May 28, 2015. Funding for this bond redemption is to be provided by the issuance of new 3.79% Senior Secured Notes due 2027 to certain institutional investors. The Notes offering is expected to close on or about June 26, 2015, subject to satisfaction of customary closing conditions. In addition, the company is entering into an amendment and restatement of its loan facility with Bank of America Merrill Lynch International Limited. These transactions are expected to result in an interest reduction of approximately $10 million per year.
MU Finance PLC Announces Amended and Restated Secured Term Facility Agreement Bank of America, N.A
Aug 12 14
On August 11, 2014, Red Football Limited entered into an amendment and restatement agreement dated August 11, 2014, among Red Football, as Obligors' Agent, and Bank of America, N.A., as agent and original lender, relating to the term facility agreement, dated May 20, 2013, among MU Finance plc, as Borrower, and Bank of America, N.A., as original lender (as each term is defined therein). The agreement provides that the Secured Term Facility will be amended and restated (as so amended and restated, the amended facility) to, among other things, provide for an additional loan of up to $7,892,500 (the additional loan), extend the maturity date of the secured term facility to August 8, 2019 and remove the requirement to make amortization payments (with the total outstanding principal amount being payable on the maturity date of the amended facility). Total commitments under the amended facility (including the additional loan) will be $315,700,000 (which is equivalent to the total original commitments as of the date of the secured term facility). The Amended Facility became effective under the agreement on August 11, 2014. The amended facility became effective under the agreement on August 11, 2014.