Tue 05/16/2023 07:54 AM
Relevant Document:New 2025 Notes Indenture
Key Takeaways
- Lycra recently refinanced its senior secured notes due 2023 with new senior secured notes due 2025.
- The new notes will initially rank pari passu with Lycra’s existing senior secured notes due 2025, but will benefit from €75 million of additional security in the form of intellectual property assets to be moved into unrestricted subsidiaries in a “dropdown” transaction.
- In a typical dropdown transaction, both the priming...
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