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8 months ago
BRIEF-Snai completes redemption of non-convertible bonds due 2018
December 16, 2016 / 12:33 PM / 8 months ago

BRIEF-Snai completes redemption of non-convertible bonds due 2018

Dec 16 (Reuters) - Snai SpA :

* Said on Thursday that following the completion of the tender offer for the senior secured and subordinated unsecured notes due 2018, it has completed the redemption of the untendered existing notes

* The redemption was completed using cash from balance sheet and the proceeds from the issuance of 570 million euros ($595.25 million) of senior secured non-convertible notes due 2021

* The aggregate principal amount outstanding following the completion of the tender offer was 277.8 million euros for 7.625% senior secured notes due 2018, 91.6 million euros for 7.625% senior secured notes due 2018, 139.5 million euros for 12.000% senior subordinated notes due 2018

Source text for Eikon: nNDL3lW6QX

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