ZPG Plc recently discussed a new debt package proposal with a price tag of £200 million senior notes and aiming to be due in 2023. This will include, additionally, "a new revolving credit facility of £200m".
The proceeds of the issue and subsequent refinancing of the notes will be used in tandem with current assets (cash and borrowings) from the new revolving credit facility to repay all outstanding debts, loans, and related expenses. The company aims for the debt package to improve their financial position through increased flexibility, as well as facilitating a more steady capital structure that will entice better interest rates for the next five years. The new bond issuance and bank facilities are expected to support the company's strategy for further continued profitable growth under this plan.
As of now, there will be no public offers for the senior notes, as they are being offered in offshore transactions outside the United States in compliance with Regulation S under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). Because of this amendment, the notes may not be offered, sold or delivered within the United States, unless it is the exception of being pursuant to an exemption from, or otherwise in a transaction not subject to typical registration requirements of the Act.