The Group’s funding sources consist of bond financing and bank facilities.
On April 27, 2023, Frigo DebtCo Plc (the parent entity of the New Frigoglass Group) issued €75 million new first lien senior secured notes due 2026 (the “New Super Senior Notes”) and €150 million senior secured second lien notes due 2028 (the “Reinstated Notes”). The New Super Senior and Reinstated Notes are guaranteed on a senior secured basis by Frigo DebtCo Plc and certain of our subsidiaries (the “Guarantors”) and secured by certain assets of the Issuer and the Guarantors.
Frigo DebtCo Plc, a public limited company, incorporated under the laws of England and Wales, registered address is C/O Tmf Group 8th Floor, 20 Farringdon Street, London, EC4A 4AB.
4.00% Cash Interest and 7.00%/8.00% PIK Toggle Interest 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 |
Senior Secured Second Lien Notes
| Aggregate Principal Amount | €150,000,000 |
| Issuer | Frigo DebtCo Plc |
| Status | Senior Secured Notes |
| Issue date | April 27, 2023 |
| Maturity date | April 27, 2028 |
| Interest | Prior to 31 December 2023: 2% cash + 9% PIYC (1.0% less if fully paid in cash)
1 January 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 |