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Dixons Retail PLC  -  DXNS   

Dixons Retail 2015 Bond Redemption announcement

Released 07:00 21-Jul-2014

RNS Number : 7985M
Dixons Retail PLC
21 July 2014
 



 

7.00am, Monday, 21 July 2014

 

Dixons Retail plc

(formerly known as DSG International plc)

(the "Issuer" or "Dixons")

£150,000,000 8.75 per cent. Guaranteed Notes due 2015

(ISIN: XS0528872830) (the "2015 Notes")

 

Notice of Redemption

Notice is hereby given to the holders of the 2015 Notes that, pursuant to Condition 5(d) of the terms and conditions of the 2015 Notes (the "Conditions"), the Issuer intends to redeem all outstanding 2015 Notes, in the amount of £100,561,000, on 21 August 2014 (the "Redemption Date") at (i) 100 per cent. of the principal amount of the 2015 Notes, plus (ii) accrued and unpaid interest to the Redemption Date, plus (iii) the Applicable Premium (the "Redemption Amount").

The redemption of the 2015 Notes on the Redemption Date is subject to, and conditional on, the completion of the all-share merger between the Issuer and Carphone Warehouse Group plc (the "Redemption Condition"), which is expected to occur on or around 6 August 2014. Accordingly, the 2015 Notes shall not be deemed due and payable on the Redemption Date unless, and until, the Redemption Condition is satisfied (or waived by the Issuer).

The Issuer will, no later than two Business Days prior to the Redemption Date, inform holders of the 2015 Notes: (i) whether the Redemption Condition has been (or will be) satisfied or waived by the Issuer and accordingly whether the 2015 Notes shall, or shall not, be so redeemed and (ii) the Redemption Amount (if applicable).

Unless the Issuer defaults in the payment of the Redemption Amount (if applicable), interest on the 2015 Notes shall cease to accrue on and after the Redemption Date.

Any redemption of the 2015 Notes will be in accordance with the applicable procedures of Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme.

All words and expressions defined in the Conditions shall (save as otherwise provided herein or unless the context otherwise requires) have the same meanings herein.

Dixons has also separately issued a notice of redemption with regards to the £150,000,000 8.75 per cent. Guaranteed Notes due 2017 (ISIN: XS0804232337). Dated: 21 July 2014

Dixons Retail plc

 

For further information

David Lloyd-Seed

IR & Corporate Affairs Director, Dixons Retail

01727 205 065

Hannah Collyer

Head of Media Relations, Dixons Retail

01727 203 041

Nick Cosgrove

Cerith Evans

Brunswick Group

020 7404 5959

Information on Dixons Retail plc is available at http://www.dixonsretail.com

Follow us on Twitter: @DixonsRetail

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Dixons Retail 2015 Bond Redemption announcement - RNS