Lowell Finance Holdings Limited (“Lowell”) today announced the pricing of £75 million aggregate principal amount of additional 10.75% senior secured notes due 2019 to be issued by its subsidiary, Lowell Group Financing plc. The notes will constitute a further issuance of the 10.75% Senior Secured Notes due 2019 issued by Lowell Group Financing plc on March 30, 2012. Lowell anticipates that the offering will close on February 11, 2013 and intends to use the proceeds from the offering to repay certain of its outstanding drawings under its revolving credit facility and for additional cash funding.
The notes are being offered in a private placement outside the United States to non-U.S. persons in reliance on Regulation S under the U.S. Securities Act. The notes will not be registered under the U.S. Securities Act or securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or pursuant to an applicable exemption from the registration requirements of the U.S. Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
This announcement does not constitute a public offering, nor an invitation to the public in connection with any offer, within the meaning of the Prospectus Directive. The offer and sale of the notes will be made pursuant to an exemption under the Prospectus Directive from the requirement to produce a prospectus for offers of securities. “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the any relevant member state of the European Economic Area. “2010 PD Amending Directive” means Directive 2010/73/EU.
Statements in this announcement that are not historical facts are forward-looking statements. All forward-looking statements involve risks and uncertainties that could affect Lowell’s actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, Lowell.
For further information, please contact our investors’ relations:
Tel: +44 (0)113 285 6570