Copenhagen, 2013-11-18 15:11 CET (GLOBE NEWSWIRE) --
Following the closing of the Nordic damage control divestment as well as other recent divestments, ISS continues its debt reduction and announces an Excess Proceeds Offer as well as a conditional partial redemption of Senior Subordinated Notes Due 2016. The Offer uses net cash proceeds to purchase from note holders a portion of the Notes, on a pro rata basis, at a purchase price in cash equal to 100% of the principal amount thereof, plus additional amounts, if any, including accrued and unpaid interest.
Concurrently with the Excess Proceeds Offer, ISS gives notice of a conditional partial redemption on 20 December 2013 of Notes in an aggregate principal amount of EUR 94,500,000 at a redemption price equal to 101.479% of the principal amount thereof, plus additional amounts, as well as accrued and unpaid interest, if any.
The Partial Redemption will be conditional upon no Notes being tendered in the Excess Proceeds Offer. ISS may waive this condition in whole or in part.
This announcement is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The proposed Excess Proceeds Offer and Partial Redemption will be made only by separate notices given to the holders of Notes. The redemption price for the Notes pursuant to the Partial Redemption will be higher than the purchase price for the Notes pursuant to the Excess Proceeds Offer.
Please find further details in the attached notice.
For media enquiries
Kenth Kærhøg, Head of Group Communications, +45 38 17 62 05
Manuel Vigilius, Global Media Relations Manager, +45 38 17 64 04
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 ISS
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 almost DKK 80 billion in 2012 and ISS 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
