The Group’s funding sources consist of bond financing and bank facilities.
On April 27, 2023, Frigo DebtCo plc (the “Issuer”) issued €75 million 4.00% Cash Interest and 7.00%/8.00% PIK Toggle Interest Senior Secured Notes due 2026 (the “Senior Secured Notes”) and €150 million Senior Secured Second Lien Notes due 2028 (the “Reinstated Notes”). The Senior Secured Notes are guaranteed on a senior secured basis and the Reinstated Notes are guaranteed on a junior secured basis by certain of our subsidiaries (the “Guarantors”) and secured by certain assets of the Issuer and the Guarantors.
The Issuer is a public limited company, incorporated under the laws of England and Wales, having its seat in London and its registered address at C/O Tmf Group 8th Floor, 20 Farringdon Street, London, EC4A 4AB, United Kingdom.
The Senior Secured Notes
| Aggregate Principal Amount | €75,000,000 |
| Issuer | Frigo DebtCo plc |
| Status | Senior Secured Notes |
| Issue date | April 27, 2023 |
| Maturity date | April 27, 2026 |
| Interest | 4% cash + 8% PIYC (1.0% less if fully paid in cash) |
| Interest payment dates | Semi-annually on November 1 and May 1 in each year |
| Interest record dates | The Clearing System business day immediately preceding the related interest payment date |
| Denominations | €1,000 / €1 |
| Stock market listing | Vienna Stock Exchange |
| Identification numbers | Rule 144A Notes
ISIN: XS2603998704 Common Code: 260399870 Reg S Notes ISIN: XS2603998456 Common Code: 260399845 IAI Notes ISIN: XS2603998886 Common Code: 260399888 |
The Reinstated Notes
| Aggregate Principal Amount | €150,000,000 |
| Issuer | Frigo DebtCo plc |
| Status | Senior Secured Second Lien Notes |
| Issue date | April 27, 2023 |
| Maturity date | April 27, 2028 |
| Interest | Prior to December 31, 2023: 2% cash + 9% PIYC (1.0% less if fully paid in cash)
January 1, 2024 onwards: 3% cash + 8% PIYC (1.0% less if fully paid in cash) |
| Interest payment dates | Semi-annually on November 1 and May 1 in each year |
| Interest record dates | The Clearing System business day immediately preceding the related interest payment date |
| Denominations | €1,000 / €1 |
| Stock market listing | Vienna Stock Exchange |
| Identification numbers | Rule 144A Notes
ISIN: XS2603999181 Common Code: 260399918 Reg S Notes ISIN: XS2603999264 Common Code: 260399926 IAI Notes ISIN: XS2603999009 Common Code: 260399900 |