Europcar Mobility Group Announces the Amendment of the Solicitations in Respect of Its Senior Notes and EC Finance plc’s Senior

Christel Deskins

Europcar Mobility Group Announces the Amendment of the Solicitations in Respect of Its Senior Notes and EC Finance plc’s Senior Secured Notes Business Wire PARIS — October 9, 2020 Regulatory News: On September 30, 2020, Europcar Mobility Group (Paris:EUCAR) (together with its consolidated subsidiaries, the “Group”) announced soliciting consents in […]

  Europcar Mobility Group Announces the Amendment of the Solicitations in
  Respect of Its Senior Notes and EC Finance plc's Senior Secured Notes

Business Wire

PARIS -- October 9, 2020

Regulatory News:

On September 30, 2020, Europcar Mobility Group (Paris:EUCAR) (together with
its consolidated subsidiaries, the “Group”) announced soliciting consents in
respect of its Senior Notes and the Senior Secured Notes (the
“Solicitations”). As previously disclosed, the purpose of the Solicitations is
to permit the Group to amend the Senior Notes and the Senior Secured Notes
documentation such that the Group would have the option to request the
appointment of a mandataire ad hoc and/or a conciliateur with respect to one
or more of the main holding companies of the Group without such action
constituting a Default or an Event of Default under the Senior Notes and the
Senior Secured Notes documentation.

On October 8, 2020, Europcar Mobility Group announced that it extended the
expiration time of the Solicitations in the Consent Solicitation Statements
dated September 30, 2020 (the "Consent Solicitations Statements") from 5:00
p.m., London time, on October 7, 2020, to 5:00 p.m., London time, on October
13, 2020, subject to any further extension.

Europcar Mobility Group hereby announces that Europcar Mobility Group and EC
Finance plc amend the Consent Solicitation Statements to include certain
additional covenants for the benefit of the holders of the Senior Notes and
Senior Secured Notes, respectively.

Europcar Mobility Group has retained Lucid Issuer Services to serve as its
Tabulation and Information Agent for the Solicitations with respect to the
Senior Notes and the Senior Secured Notes (Attention: Victor Parzyjagla, +44
(0) 20 7704 0880, [email protected]).

“Senior Notes” means the €600,000,000 aggregate principal amount of 4.125%
Senior Notes due 2024 (Reg. S Common Code: 170620259 / Reg. S ISIN:
XS1706202592; Rule 144A Common Code: 170620275 / Rule 144A ISIN: XS1706202758)
(the “2024 Senior Notes”) and the €450,000,000 aggregate principal amount of
4.000% Senior Notes due 2026 (Reg. S Common Code: 198337587 / Reg. S ISIN:
XS1983375871; Rule 144A Common Code: 198337617 / Rule 144A ISIN: XS1983376176)
(the “2024 Senior Notes”) issued by Europcar Mobility Group.

“Senior Secured Notes” means the €500,000,000 aggregate principal amount of
2.375% Senior Secured Notes due 2022 (Reg. S Common Code: 170390016/ Reg. S
ISIN: XS1703900164; Rule 144A Common Code: 170390059/ Rule 144A ISIN:
XS1703900594 issued by EC Finance plc and guaranteed by Europcar Mobility
Group. The Senior Secured Notes are often referred to as “Fleet Notes” by
market participants.

Disclaimers

This announcement has been prepared by Europcar Mobility Group exclusively for
information purposes. It does not constitute or include any advice or
recommendation by Europcar Mobility Group (or any other person) regarding the
securities of Europcar Mobility Group or EC Finance plc or as to the merits of
any transaction or the making of any investment decision. It does not
constitute or include any confirmation or commitment by Europcar Mobility
Group (or any other person) regarding the present or future value of the
business of Europcar Mobility Group, its securities, its affiliates or any of
Europcar Mobility Group’s or their assets.

This announcement is not an offer to sell or a solicitation of an offer to buy
or exchange or acquire securities in the United States or in any other
jurisdiction. The securities referenced in this announcement may not be
offered, sold, exchanged or delivered in the United States absent registration
or an applicable exemption from the registration requirement under the U.S.
Securities Act of 1933, as amended. The securities mentioned in this
announcement are not, and will not be, registered in the United States. This
announcement is not directed at, or intended for distribution, publication,
availability to or use by, any person or entity that is a citizen or resident
or located in any locality, state, country or other jurisdiction, where such
distribution, publication, availability or use would be contrary to law or
regulation, or which would require any registration or licensing within such
jurisdiction. Nothing in this announcement constitutes or contemplates an
invitation to participate in the Solicitations by a holder in any
circumstances in which such participation is unlawful.

This press release includes forward-looking statements based on current
beliefs and expectations about future events. Such forward-looking statements
may include projections and estimates and their underlying assumptions,
statements regarding plans, objectives, intentions and/or expectations with
respect to future financial results, events, operations and services and
product development, as well as statements, regarding performance or events.
Forward-looking statements are generally identified by the words “expects”,
“anticipates”, “believes”, “intends”, “estimates”, “plans”, “projects”, “may”,
“would”, “should” or the negative of these terms and similar expressions.
Forward looking statements are not guarantees of future performance and are
subject to inherent risks, uncertainties and assumptions about Europcar
Mobility Group and its subsidiaries and investments, trends in their business,
future capital expenditures and acquisitions, developments in respect of
contingent liabilities, changes in economic conditions globally or in Europcar
Mobility Group’s principal markets, competitive conditions in the market and
regulatory factors. Those events are uncertain; their outcome may differ from
current expectations which may in turn materially affect expected results.
Actual results may differ materially from those projected or implied in these
forward-looking statements. Any forward-looking statement contained in this
press release is made as of the date of this press release. Other than as
required by applicable law, Europcar Mobility Group does not undertake to
revise or update any forward-looking statements in light of new information or
future events. The results and the Group's performance may also be affected by
various risks and uncertainties, including without limitation, risks
identified in the "Risk factors" of the Annual Registration Document
registered by the Autorité des marchés financiers on May 6, 2020 and also
available on the Group's website.

About Europcar Mobility Group

Europcar Mobility Group is a major player in mobility markets and listed on
Euronext Paris. The mission of Europcar Mobility Group is to be the preferred
“Mobility Service Company” by offering attractive alternatives to vehicle
ownership, with a wide range of mobility-related services and solutions: car
rental and light commercial vehicle rental, chauffeur services, car-sharing
and private hire vehicle (PHV – rental to “Uber like” chauffeurs).

Customers’ satisfaction is at the heart of the Group’s mission and all of its
employees and this commitment fuels the continuous development of new
services.

Europcar Mobility Group operates through a diversified portfolio of brands
meeting every customer specific needs and use cases, be it for 1 hour, 1 day,
1 week or longer ; its 4 major brands being: Europcar® - the European leader
of car rental and light commercial vehicle rental, Goldcar® - the low-cost
car-rental Leader in Europe, InterRent® – ‘mid-tier’ car rental and Ubeeqo® –
one of the European leaders of round- trip car-sharing (BtoB, BtoC). Europcar
Mobility Group delivers its mobility solutions worldwide solutions through an
extensive network in over 140 countries (including wholly owned subsidiaries –
18 in Europe, 1 in the USA, 2 in Australia and New Zealand – completed by
franchises and partners).

       Further details on our website:  www.europcar-mobility-group.com

View source version on businesswire.com:
https://www.businesswire.com/news/home/20201009005307/en/

Contact:

Investor Relations
Caroline Cohen – [email protected] + 33 1 76 36 86 02

Rothschild & Co
Arnaud Joubert – [email protected]
Camille Pochat – [email protected]
Henry Barrault – henry.ba[email protected]

Press Relations
Valerie Sauteret – [email protected] +33 6 72 93 31 05
Vincent Vevaud – [email protected]

Publicis Consultants
Laurent Glepin – [email protected] +33 6 08 57 02 82
Camille Madec - [email protected] +33 6 08 57 02 82

Source Article

Next Post

Kamala Harris on Trump's debt: 'It means you owe money to somebody'

Kamala Harris gave a blunt refresher on President Donald Trump’s finances early on in the vice-presidential debate Wednesday night. “It would be really good to know who the president of the United States — the commander-in-chief — owes money to,” Harris said, referring to The New York Times’ investigation into […]