Debt Purchaser, Cabot Credit Management has announced that its 100% indirectly owned subsidiary Cabot Financial (Luxembourg) II S.A. had priced an offering of €400 million aggregate principal amount of Senior Secured Floating Rate Notes due 2024 with a coupon of 6.375% plus three-month EURIBOR (subject to a 0% floor), reset quarterly, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States to certain non-U.S. persons pursuant to Regulation S under the Securities Act of 1933, as amended. The gross proceeds of the Offering will be €400 million.

The gross proceeds of the Offering will be used, along with cash on hand, to redeem in full Cabot Financial (Luxembourg) S.A.’s £80 million senior secured notes due 2021 and pay accrued interest thereon, redeem in full the Issuer’s €310 senior secured floating rate notes due 2021 and pay premium and accrued interest thereon, and pay fees, expenses and commissions in relation to the offering of the Notes.

Earlier in the week Cabot announced that it had also launched an offering for €310 million aggregate principal amount of Senior Secured Floating Notes due 2024 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States to certain non-US persons pursuant to Regulation S under the Securities Act of 1933, as amended (the “Offering”).

The Notes will be guaranteed on a senior secured basis by CCM, Cabot Financial Limited and all material subsidiaries of Cabot Financial Limited (other than Marlin Intermediate Holdings plc, Cabot Securitisation UK Limited, Cabot Securitisation (UK) II Limited and the Issuer). The Issuer expects that the gross proceeds of the Offering, if completed, will be used to redeem in full Cabot Financial (Luxembourg) II S.A.’s €310 million senior secured floating rate notes due 2021 and pay premium and accrued interest thereon and pay fees, expenses and commissions in relation to the offering of the Notes.