trending Market Intelligence /marketintelligence/en/news-insights/trending/kpmgfgsprhxth2blhgpn-q2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Encore Capital Group unit sells £350M of senior secured notes

IPTV, Multichannel Services In Asia Evolving Quickly In Response To COVID-19

COVID-19 Could Hamper Broadcast Ad Revenues In Q1’2020

Australia And New Zealand Telcos Launch Special Packs Amidst COVID-19 Outbreak

Video

The Global Impact of COVID-19


Encore Capital Group unit sells £350M of senior secured notes

Encore CapitalGroup Inc.'s indirect subsidiary, Cabot Financial (Luxembourg) SA,has sold £350 million of 7.50% senior secured notes due Oct. 1, 2023, in aprivate placement.

The notes were issued at a price equal to 100% of their facevalue. The notes will bear interest at a fixed rate equal to 7.50% per annum.Interest on the notes will be payable semiannually on April 1 and Oct. 1 eachyear, starting April 1, 2017.

The proceeds from the sale of the notes were £343.3 million.The proceeds were used to redeem Cabot Financial's £265 million in seniorsecured notes due 2019 in full and pay accrued interest on those notes,partially repay amounts outstanding under senior facilities, and for thepayment of fees and expenses in relation to the offering.

In addition, Encore Capital's subsidiary Cabot Financial(U.K.) Ltd. amended its senior secured revolving credit with J.P. Morgan Europe Ltd. asagent and security agent to increase the total amount of the facility to £250million and extend the termination date to Sept. 24, 2019, among other things.