LUXEMBOURG, June 17, 2016 /PRNewswire/ -- ContourGlobal Power Holdings S.A. (the "Issuer") today announced the closing of its previously announced private offering of €550 million aggregate principal amount of 5.125% senior secured notes due 2021 (the "Notes") to eligible purchasers. The Notes had received a 'BB' rating by Standard & Poor's and a 'BB-' rating by Fitch Ratings.
The Issuer intends to use the net proceeds from the offering to refinance outstanding indebtedness, including its senior secured notes due 2019, pay related fees and expenses and for general corporate purposes.
The Notes were offered in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and, outside the United States, to non-U.S. investors pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
The Issuer is a finance subsidiary wholly-owned by ContourGlobal L.P., a Cayman Islands exempted limited partnership (together with its consolidated subsidiaries, "ContourGlobal"). ContourGlobal is a premier developer and operator of wholesale electric power generation businesses in 20 countries worldwide.
Forward Looking Statements
This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. The Issuer undertakes no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in ContourGlobal's business or to reflect the occurrence of unanticipated events.