DGAP-Adhoc: PCF GmbH: Refinancing - Pricing and Allocation

PCF GmbH herewith informs, that the parent company Pfleiderer Grajewo S.A. has today published the following Current Report no. 18/2017:
"Further to current report no. 17//2017, Pfleiderer Group S.A. (together with its subsidiary PCF GmbH, "Pfleiderer") announces that it has successfully priced and allocated a EUR350.0 million 7-year covenant-lite term loan B facility carrying an interest margin of 325bps (Euribor floor: 0.75%) and 99.0 OID. The new EUR100.0 million 5-year revolving credit facility will have an interest margin of 300bps (Euribor floor: 0%). The senior credit facilities agreement for the term loan B facility and the revolving credit facility (together, the "Facilities") is expected to be signed in due course.

The proceeds from the Facilities will be used to redeem the existing EUR321,684,000 7.875% senior secured notes issued by PCF GmbH (formerly Pfleiderer GmbH) ("Notes") in full, to refinance the existing senior secured revolving credit facility and to fund related transaction fees, redemption premium and expenses as well as for general corporate purposes and working capital requirements.

Subject to the completion of the Facilities, Pfleiderer plans to redeem the Notes on or after August 1, 2017 at a redemption price of 101.969%.

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This report was prepared pursuant to Article 17 Section 1 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and on repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ EU L 173/1 dated June 12, 2014).

April 7, 2017"