Regulatory News:
On November 26, 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 opening of an accelerated financial safeguard (sauvegarde
financière accélérée) at the level of Europcar Mobility Group and
its recognition in the United States pursuant to Chapter 15 of the
U.S Bankruptcy Code without such action constituting a Default or
an Event of Default under the Senior Notes and the Senior Secured
Notes documentation.
Europcar Mobility Group today announces that the Solicitations
contained in the consent solicitation statements dated November 26,
2020, as amended and restated on December 1, 2020 (the "Consent
Solicitations Statements"), have been successfully completed upon
receiving consents from the requisite majority of holders of the
2024 Senior Notes, the 2026 Senior Notes and the Senior Secured
Notes on December 7, 2020.
Europcar Mobility Group also announces that the Effective Time
(as defined in each of the Consent Solicitations Statements) has
occurred at 6:40 pm, London time, on December 7, 2020, and that the
supplemental indentures giving effect to the amendments proposed in
the Consent Solicitation Statements were executed by the parties
thereto and became effective in accordance with their terms.
“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 “2026 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
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version on businesswire.com: https://www.businesswire.com/news/home/20201207005939/en/
Europcar Mobility Group
Investor Relations Caroline Cohen -
caroline.cohen@europcar.com
Press relations Valérie Sauteret –
valerie.sauteret@europcar.com Vincent Vevaud –
vincent.vevaud@europcar.com
Publicis Consultants Judith Grandcoing –
judith.grandcoing@publicisconsultants.com