Gallarate, Italy, November 25, 2024. Irca S.p.A., a joint stock company (società per azioni)incorporated under the laws of the Republic of Italy (the “Issuer” and, together with IRCA Group Luxembourg Midco 3 S.à r.l. and its consolidated subsidiaries, the “Group”), announced today that it has launched an offering (the “Offering”) of €400,000,000 in aggregate principal amount of senior secured notes due 2029 (the “Fixed Rate Notes”) and €700,000,000 in aggregate principal amount of senior secured floating rate notes due 2029 (the “Floating Rate Notes” and, together with the Fixed Rate Notes, the “Notes”).
The Issuer intends to use the proceeds from the Offering, if completed, to (i) fund the redemption of the entire outstanding amount of the Issuer’s Floating Rate Senior Secured PIK Toggle Notes due 2029, including the payment of the applicable call premium and accrued and unpaid interest thereon, (ii) fund the repayment of all amounts outstanding under the Group’s unitranche facility, including the payment of the applicable call premium and accrued and unpaid interest thereon, (iii) fund the repayment of all outstanding amounts under the Group’s super senior multi-currency revolving credit facility, including the payment of accrued and unpaid interest thereon, (iv) fund cash on balance sheet and (v) pay the fees and expenses incurred in connection with the Offering and the use of proceeds therefrom.
There can be no assurance that the Offering and the other transactions described herein will be completed.
