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Oak Hill Eu C P V D (IRSH)

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Friday 08 November, 2019

Oak Hill Eu C P V D

Notice of Redemption

RNS Number : 8717S
Oak Hill European Credt Ptnrs V DAC
08 November 2019
 

THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE NOTES. IF APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUIRED TO EXPEDITE TRANSMISSION HEREOF TO BENEFICIAL OWNERS OF THE NOTES IN A TIMELY MANNER. IF BENEFICIAL OWNERS OF THE NOTES ARE IN ANY DOUBT AS TO THE MATTERS REFERRED TO IN THIS NOTICE, THEY SHOULD CONSULT THEIR STOCKBROKER, LAWYER, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER WITHOUT DELAY.

If you have recently sold or otherwise transferred your entire holding(s) of Notes referred to below, you should immediately forward this Notice to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

Oak Hill European Credit Partners V Designated Activity Company
(a designated activity company incorporated under the laws of Ireland)
(the "Issuer")

€260,800,000 Class A-1 Senior Secured Floating Rate Notes due 2030
(CM Voting Notes, Regulation S: XS1531382650, Rule 144A: XS1531382734;
CM Non-Voting Exchangeable Notes, Regulation S: XS1531383112, Rule 144A: XS1531383542
CM Non-Voting Notes, Regulation S: XS1531383385, Rule 144A: XS1531382817;)

€10,600,000 Class A-2 Senior Secured Fixed Rate Notes due 2030
(CM Voting Notes, Regulation S: XS1531383898, Rule 144A: XS1531383039;
CM Non-Voting Exchangeable Notes, Regulation S: XS1531384193, Rule 144A: XS1531384359;
CM Non-Voting Notes, Regulation S: XS1531382908, Rule 144A: XS1531383203)

€47,600,000 Class B-1 Senior Secured Floating Rate Notes due 2030
(CM Voting Notes, Regulation S: XS1531384516, Rule 144A: XS1531383625;
CM Non-Voting Exchangeable Notes, Regulation S: XS1531384862, Rule 144A: XS1531385166;
CM Non-Voting Notes, Regulation S: XS1531383468, Rule 144A: XS1531383971)

€12,200,000 Class B-2 Senior Secured Fixed Rate Notes due 2030
(CM Voting Notes, Regulation S: XS1531384276, Rule 144A: XS1531384433;
CM Non-Voting Exchangeable Notes, Regulation S: XS1531386057, Rule 144A: XS1531384789;
CM Non-Voting Notes, Regulation S: XS1531384607, Rule 144A: XS1531384946)

€25,900,000 Class C Senior Secured Deferrable Floating Rate Notes due 2030
(CM Voting Notes, Regulation S: XS1531385083, Rule 144A: XS1531386560;
CM Non-Voting Exchangeable Notes, Regulation S: XS1531386487, Rule 144A: XS1531386644;
CM Non-Voting Notes, Regulation S: XS1531385240, Rule 144A: XS1531385323)

€23,700,000 Class D Senior Secured Deferrable Floating Rate Notes due 2030
(CM Voting Notes, Regulation S: XS1531385596, Rule 144A: XS1531386990;
CM Non-Voting Exchangeable Notes, Regulation S: XS1531385679, Rule 144A: XS1531385752;
CM Non-Voting Notes, Regulation S: XS1531386727, Rule 144A: XS1531385836)

€30,400,000 Class E Senior Secured Deferrable Floating Rate Notes due 2030
(Regulation S: XS1531385919, Rule 144A: XS1531387022)

€12,900,000 Class F Senior Secured Deferrable Floating Rate Notes due 2030
(Regulation S: XS1531386131, Rule 144A: XS1531386214)

€55,100,000 Subordinated Notes due 2030
(Regulation S: XS1531387295, Rule 144A: XS1531386305)
(the "Notes")

NOTICE OF REDEMPTION

We refer to the trust deed dated 25 January 2017, as amended, varied or waived from time to time, made between (amongst others) the Issuer and BNY Mellon Corporate Trustee Services Limited in its capacity as trustee (the "Trustee") (including the conditions of the Notes set out at schedule 3 (Terms and Conditions of the Notes) thereto (the "Conditions")) (the "Trust Deed"). Capitalised terms used but not otherwise defined in this notice shall have the meanings ascribed to them in the master definitions agreement dated 25 January 2017 between (amongst others) the Issuer and the Trustee (the "Master Definitions Agreement").

We hereby notify each Noteholder:

(A)       in accordance with paragraph 10 (Effect and Publication of a Resolution) of Schedule 5 (Provisions for Meetings of the Noteholders of each Class) to the Trust Deed, that holders of more than 50 per cent. of the aggregate Principal Amount Outstanding of the Subordinated Notes acting by Ordinary Resolution have exercised their right pursuant to and in accordance with Condition 7(b)(ii) (Optional Redemption in Part - Refinancing of a Class or Classes of Notes in whole by Subordinated Noteholders or Collateral Manager) to require the Issuer to redeem the Class A-1 Notes and the Class A-2 Notes (together, the "Refinanced Notes") in whole at the applicable Redemption Prices from Refinancing Proceeds (the "Refinancing"); and

(B)       pursuant to Condition 7(b)(iv)(A) (Terms and Conditions of an Optional Redemption), that accordingly, subject to satisfaction of the conditions precedent and other provisions set out in Condition 7(b) (Optional Redemption), we will redeem all of the Classes of the Refinanced Notes in whole at a price of 100 per cent. of the Principal Amount Outstanding thereof plus accrued and unpaid interest thereon on the Redemption Date of 21 November 2019.

This notice and any non-contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with English law.

Each of clause 26 (Limited Recourse and Non-petition) and 29 (Governing Law and Jurisdiction) of the Trust Deed are incorporated as if set out in full herein with references to "this Trust Deed" replaced with references to "this notice".

No person has been authorised to give information, or to make any representation in connection therewith, other than contained herein. The delivery of this notice at any time does not imply that the information contained within it is correct as at any time subsequent to its date.

 

Oak Hill European Credit Partners V Designated Activity Company

8 November 2019

 

Enquiries:

Oak Hill European Credit Partners V Designated Activity Company
32 Molesworth Street
Dublin 2
Ireland
 

Attention:    The Directors
Facsimile:   +353 1 697 3300
Email:         [email protected]

 

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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