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DUBAI - FIVE Holdings (BVI) Limited announced Monday it will redeem all of its outstanding $330 million in 9.375% Senior Notes due 2027 ahead of schedule. The redemption will take place on October 3, 2025, according to a company press release.
The British Virgin Islands-incorporated company will pay noteholders a redemption price of 104.6875% of the principal amount, plus accrued and unpaid interest to the redemption date. This amounts to an additional premium of approximately $15.47 million in interest payments.
The notes, which were originally set to mature in 2027, were constituted under a master trust deed dated October 3, 2023, with Citibank, N.A., London Branch serving as trustee.
Noteholders must surrender their notes to Citibank Europe Plc, the designated registrar, at its Dublin office to collect the redemption payment. The company stated that interest on the notes will cease to accrue on and after the redemption date.
The redemption applies to both Regulation S Notes (ISIN:XS2611093365) and Rule 144A Notes (CUSIP:33829Q AA0).
The record date for the redemption will be the business day in New York preceding the October 3 redemption date, with payments to be processed the same day.
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