Hoofddorp, the Netherlands, April 7, 2017 – CEVA Group Plc (“CEVA” or the “Company”) announced today the successful completion its previously announced private offer to exchange (the “Exchange Offer”) and related consent solicitation (the “Consent Solicitation”) for its 4.00% First Lien Senior Secured Notes due 2018 (the “Existing Notes”).
The Company accepted for exchange in the Exchange Offer an aggregate principal amount of $350,674,633 of Existing Notes that had been validly tendered (and not validly withdrawn) as of 11:59 p.m., New York City time, on April 4, 2017. The Company issued $375,530,636 aggregate principal amount of its new 9.0% First Lien Senior Secured Notes due 2020 (the “New Notes”), which represents an aggregate principal amount of $359,441,511 of New Notes issued in connection with the Exchange Offer plus an aggregate principal amount of $16,089,125 of New Notes issued pursuant to agreements between the Company and certain holders of CEVA’s outstanding 12.75% senior notes due 2020, pursuant to which CEVA agreed to privately exchange such outstanding senior notes for a like principal amount of the New Notes concurrently with, and conditioned upon, the Exchange Offer.
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