CAP.MAN.& INV Capital Management & Investment Plc : Miscellaneous
May 15 2013 - 11:57AM
UK Regulatory
TIDMCMIP
15 May 2013
Capital Management & Investment plc
(the "Company")
Algeco Scotsman Raises $400 Million PIK Loan
Capital Management & Investment plc announces that on 14 May 2013,
Algeco Scostman Holdings (ASH) through a newly-formed wholly-owned
subsidiary, Algeco Scotsman PIK S.A., completed a $400 million
payment-in-kind debt ("PIK Debt") loan agreement intended to fund a
partial redemption of capital, net of transaction fees and expenses, to
ASH's shareholders (the "Redemption of Capital").
The PIK Debt bears interest at a rate equal to 15.75% per annum (or 15%
per annum to the extent paid in cash) and matures in May 2018 and is
mandatorily pre-payable with the proceeds of certain offerings or other
sales of equity and upon the occurrence of a change of control
transaction.
The Redemption of Capital is expected to take place during the next 6
months and the Company expects to receive EUR7.8 million.
Contact:
Capital Management and Investment plc
Tim Woodcock 0207 725 0800
N+1 Singer
Jonny Franklin-Adams
Alex Wright 020 7496 3000
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Capital Management & Investment Plc via Thomson Reuters ONE
HUG#1702337
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