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Channel Link Enterprises Finance plc announces results

Channel Link Enterprises Finance plc announces results of Consent Solicitation (adjourned meetings)




 

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"Background On 20 October 2022, Channel Link Enterprises Finance plc (the “Issuer”) announced a consent solicitation (the “Consent Solicitation”) in respect of its:


- £400,000,000 Tranche A1 Secured Fixed Rate Notes due 2046 (the “Tranche A1 Notes”);

- €645,000,000 Tranche A2 Secured Fixed Rate Notes due 2041 (the “Tranche A2 Notes”);

- £350,000,000 Tranche A5 Secured Variable Rate Notes due 2050 (the “Tranche A5 Notes”);

- £336,500,000 Tranche A6 Secured Fixed Rate Notes due 2050 (the “Tranche A6 Notes”);

- €528,000,000 Tranche A8 Secured Variable Rate Notes due 2050 (the “Tranche A8 Notes”);

- €83,000,000 Tranche A9 Secured Fixed Rate Notes due 2050 (the “Tranche A9 Notes”); and - €140,000,000 Tranche A10 Secured Fixed Rate Notes due 2050 (the “Tranche A10 Notes”, and together with the Tranche A1 Notes, the Tranche A2 Notes, the Tranche A5 Notes, the Tranche A6 Notes, the Tranche 8 Notes and the Tranche A9 Notes, the “Notes”),


seeking the consent of Eligible Noteholders (other than holders of the Tranche A10 Notes, whose consent was sought separately by way of a Written Resolution) to approve Extraordinary Resolutions to instruct the Trustee and the Issuer to enter into a deed of amendment (substantially in the form appended to the Solicitation Memorandum, the “Global Deed of Amendment”), in order to amend the interest basis of the Notes to transition from LIBOR to SONIA by adopting compounded daily SONIA in arrear without observational shift plus a spread adjustment (the “Proposals”), as more fully described in the Solicitation Memorandum. Capitalised terms used in this announcement (the “Announcement”) and not defined herein shall have the meanings ascribed to them in the Consent Solicitation Memorandum dated 20 October 2022 (the “Solicitation Memorandum”).

...

Quorate Meetings of the Tranche A1 Notes, the Tranche A5 Notes and the Tranche A6 Notes


Adjourned Meetings of the Tranche A2 Notes, the Tranche A8 Notes and the Tranche A9 Notes.

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