OREANDA-NEWS. Jerrold FinCo plc (the "Issuer"), a wholly-owned subsidiary of Jerrold Holdings Limited (the "Company"), a secured retail and commercial purpose mortgage loan provider in the United Kingdom, is pleased to announce the issuance of ?375 million aggregate principal amount of senior secured notes due 2021 at a coupon of 6 ?% per annum (the "Notes") under an indenture dated October 13, 2016.  The net proceeds of the offering of the Notes will be used to (i) satisfy and discharge the outstanding ?300 million in aggregate principal amount of the Issuer's 9 ?% senior secured notes due 2018 (the "Existing Notes") (together with the related premia and costs), (ii) prepay the amounts outstanding under the Company's revolving credit facility, (iii) for general corporate purposes and (iv) to pay expenses in connection with the offering of the Notes.

Gary Beckett, Group Chief Finance Officer of the Company commented: "We are pleased to return to the market and to refinance our successful and popular issue. The transaction secures funding on significantly improved terms, reflecting the continued growth and strength of the business. We recently reported record pre-tax profits of ?90.3 million for the year ended June 30, 2016 on a loan book value of ?1.8 billion as of June 30, 2016. In addition, we have undertaken significant investment in our operational platform and people with a number of high calibre hires joining us over the last 12 months, placing the company in a strong position to capitalise on market opportunities as we continue to see increasing demand for our products."

The Notes are guaranteed on a senior basis by the Company and all of its subsidiaries other than the Issuer and certain dormant and non-material subsidiaries (the "Subsidiary Guarantors" and, together with the Company, the "Guarantors").  The Notes and the guarantees are secured by first-priority fixed and floating security interests granted on an equal and rateable first-priority basis over all of the issued capital stock in the Issuer and each Guarantors (other than the Company), substantially all of the existing and future property and assets of the Issuer and the Guarantors, and any additional security interests that may in the future be pledged to secure obligations under the Notes, the guarantees and the Indenture.  Pursuant to the terms of the Intercreditor Agreement, any liabilities in respect of indebtedness incurred under the Revolving Credit Facility and certain related hedging obligations that are secured by assets that also secure the Company's or the Guarantors' obligations under the Notes or the Guarantees, as applicable, will receive priority with respect to any proceeds received upon any enforcement action over any such assets.

On September 26, 2016, the Issuer launched a tender offer (the "Tender Offer") pursuant to which ?125,389,000 aggregate principal amount of the Existing Notes were validly tendered.  Concurrently with the issuance of the Notes, the Issuer satisfied and discharged the indenture relating to the Existing Notes.

Application has been made for the listing particulars related to the Notes to be approved by the Irish Stock Exchange and for the Notes to be admitted to the Official List of the Irish Stock Exchange and admitted to trading on its Global Exchange Market.

Credit Suisse Securities (Europe) Limited, J.P. Morgan Securities plc, Barclays Bank PLC, The Royal Bank of Scotland plc and Natixis acted as initial purchasers with respect to the issuance of the Notes.