Copenhagen, 2012-12-17 15:03 CET (GLOBE NEWSWIRE) --
Today, ISS has called in full the EUR 525 million 11% Senior Notes due 2014 at a redemption price equal to 102.750%.
The redemption follows the EUR 500 million equity investment in ISS by Ontario Teachers' Pension Plan (Teachers') and KIRKBI Invest A/S (KIRKBI). When the investment was announced, ISS also announced that the proceeds from the investment were expected to be used to significantly deleverage the company by repaying the 11% Senior Notes due 2014 after the December 2012 call date.
Henrik Andersen, ISS Group CFO, said:
“Repaying the 11% Senior Notes is an important milestone to ISS following the equity investment by Teachers’ and KIRKBI. The redemption eliminates interest payments of more than 400 million DKK annually which together with cash from operations and successful divestments of non-strategic business units will allow ISS to further accelerate the deleveraging in 2013.”
For media enquiries
Kenth Kærhøg, Head of Group Communications, +45 38 17 62 05
For investor enquiries
Barbara Plucnar Jensen, Head of Group Treasury, +45 38 17 62 60
Martin Kjær Hansen, Treasury Manager, +45 38 17 64 31
About the ISS Group
The ISS Group was founded in Copenhagen in 1901 and has grown to become one of the world’s leading Facility Services companies. ISS offers a wide range of services such as: Cleaning, Catering, Security, Property and Support Services as well as Facility Management. Global revenue amounted to DKK 78 billion in 2011 and ISS now has more than 530,000 employees and local operations in more than 50 countries across Europe, Asia, North America, Latin America and Pacific, serving thousands of both public and private sector customers. For more information on the ISS Group, visit www.issworld.com.
ISS A/S, CVR 28 50 47 99, ISIN XS0253470644
ISS Global A/S, ISIN XS0206714247
ISS Financing plc, ISIN XS0441258117
