INOVYN Finance plc (“INOVYN”) today announced that it intends to enter into an amendment agreement to, among other things, decrease the interest rates (the “Repricing”) applicable to all outstanding initial tranche B term loan borrowings under its Senior Secured Credit Agreement and make certain amendments thereto. There can be no assurance that the Repricing will be completed.
Formed on 1 July 2015, INOVYN is a vinyls producer that ranks among the top three worldwide. With an annual turnover in excess of €3.5 billion, INOVYN has more than 4,300 employees and manufacturing, sales and marketing operations in ten countries across Europe.
INOVYN’s portfolio consists of an extensive range of class leading products arranged across General Purpose Vinyls, Specialty Vinyls, Organic Chlorine Derivatives and Chlor Alkali. Annual production volumes are in excess of 40 million tonnes.
This press release is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States of America or in any other jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). No indebtedness incurred in connection with the Repricing will be registered under the Securities Act.
This communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 as amended (the “Order”), (iii) are persons falling within Article 49(2)(a) to (d) “high net worth companies, unincorporated associations, etc.” of the Order, and (iv) persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any notes may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to, and will only be engaged in with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
This announcement is not a public offering in the Grand Duchy of Luxembourg or an offer of securities to the public in any European Economic Area member state that has implemented Directive 2003/71/EC, and any amendments thereto (together with any applicable implementing measures in any member state, the “Prospectus Directive”).
Forward Looking Statements
This press release may include “forward looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements can be identified by the use of forward looking terminology, including the terms ‘‘believes,’’ ‘‘estimates,’’ ‘‘anticipates,’’ ‘‘expects,’’ ‘‘intends,’’ ‘‘may,’’ ‘‘will’’ or ‘‘should’’ or, in each case, their negative, or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding INOVYN’s intentions, beliefs or current expectations concerning, among other things, INOVYN’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward looking statements are not guarantees of future performance and that INOVYN’s actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward looking statements contained in this press release. In addition, even if INOVYN’s results of operations, financial condition and liquidity, and the development of the industry in which INOVYN operates are consistent with the forward looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods. Given these risks and uncertainties, you should not rely on forward looking statements as a prediction of actual results.