Baar, Switzerland, 10 July 2019 – CEVA Logistics AG (“CEVA” or the “Company”) announced today that, as a result of the previously announced cash tender offer (the “Tender Offer”) by its subsidiary, CEVA Logistics Finance B.V. (“CEVA Finance”) for the €300 million aggregate principal amount of its outstanding 5¼% Senior Secured Notes due 2025 (the “Notes”), CEVA Finance has received tenders, as of the expiration date of 2 July 2019, from the holders of €284,086,000 aggregate principal amount, or approximately 94.7%, of the Notes (the “Tendered Notes”). On 9 July 2019, CEVA Finance accepted all of the Tendered Notes and paid the aggregate purchase price of €293,472,674.97 equal to 101% of the aggregate principal amount of Notes accepted for purchase, plus accrued and unpaid interest to, but not including, 9 July 2019. CEVA Finance has delivered the Tendered Notes for cancellation. Following the cancellation of the Tendered Notes on 9 July 2019, the aggregate principal amount of Notes outstanding is €15,914,000. With regard to the Notes that were not tendered in the Tender Offer, CEVA Finance intends to promptly exercise its right to redeem such untendered Notes at a redemption price equal to 101% of the principal amount redeemed thereby, plus accrued and unpaid interest, to, but not including, the date of redemption.
CEVA Finance funded the purchase of the Tendered Notes with proceeds from borrowings under a new senior secured bridge facility established pursuant to a senior secured bridge facility agreement dated 5 July 2019, entered into by CEVA Finance as borrower, CEVA and certain subsidiaries of CEVA as guarantors and BNP Paribas SA, HSBC Bank plc and Société Générale as arrangers and lenders.