EUROPEAN forwarding giant CEVA Logistics, formerly of the Netherlands, but now of Baar, Switzerland, has announced its subsidiary, CEVA Logistics Finance, is to offer EUR300 million (US$351
EUROPEAN forwarding giant CEVA Logistics, formerly of the Netherlands, but now of Baar, Switzerland, has announced its subsidiary, CEVA Logistics Finance, is to offer EUR300 million (US$351.06 million) in Senior Secured Notes due in 2025 in a private offering. CEVA expects to use the net proceeds, along with the proceeds of a $400 million Secured Term Loan B sought a $600 million revolving credit facility due 2023, together with available cash, to repay debt.
'There can be no assurance that the refinancing, including the offering of the notes, will be completed,' said the CEVA statement.
The notes have not been and will not be registered under the US Securities Act, and may not be offered or sold in the United States except under unusual circumstances.
But the notes will be offered in the US to 'qualified institutional buyers' and outside the United States, to persons who are not 'US persons'.
