Item 1.01 Entry into a Material Definitive Agreement
Offering of Senior Notes OnJune 22, 2020 ,The Brink's Company ("Brink's" or the "Company") closed a private offering (the "Offering") of$400 million aggregate principal amount of senior unsecured notes due 2025 (the "Notes"). The Notes were issued pursuant to a senior notes indenture dated as ofJune 22, 2020 (the "Indenture") by and among the Company, certain subsidiaries of the Company (the "Subsidiary Guarantors") andU.S. Bank National Association as trustee. The Company intends to use the proceeds from the Offering to repay certain existing indebtedness incurred in connection with the acquisition of the G4S cash management business, finance the remaining acquisitions of the G4S cash management business and pay certain fees and expenses related to the G4S acquisitions. Remaining net proceeds are expected to be used for working capital needs, capital expenditures, acquisitions and other general corporate purposes. The Indenture The Notes are governed by the Indenture and will bear interest at a rate of 5.500% per year, payable semiannually in arrears in cash onJanuary 15 andJuly 15 of each year, beginning onJanuary 15, 2021 . The Notes will mature onJuly 15, 2025 . The Company may redeem some or all of the Notes on or afterJuly 15, 2022 at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. The Company may also redeem some or all of the Notes at any time prior toJuly 15, 2022 at a price equal to 100% of the principal amount of the Notes redeemed plus a "make-whole" premium described in the Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. In addition, the Company may redeem up to 35% of the aggregate principal amount of the Notes at any time beforeJuly 15, 2022 , with net cash proceeds from certain equity offerings at the applicable redemption price set forth in the Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. If the Company experiences specific kinds of changes in control or certain assets are sold, it may also be required to offer to purchase the Notes at a purchase price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, if any, to but not including the repurchase date. If an event of default, as defined in the Indenture, shall have happened and be continuing, either the trustee or the holders of not less than 25% in aggregate principal amount of the Notes then outstanding may, subject to certain exceptions provided in the Indenture, declare the principal amount of the Notes and any accrued and unpaid interest through the date of such declaration, to be immediately due and payable. In the case of certain events of bankruptcy or insolvency, the principal amount of the Notes and any unpaid interest accrued thereon through the occurrence of such event shall automatically become and be immediately due and payable. The Notes are guaranteed on a senior unsecured basis by each of the Subsidiary Guarantors. The Notes will rank senior in right of payment to any of the Company's future subordinated indebtedness, will rank equally in right of payment with all of the Company's existing and future senior indebtedness, will be effectively subordinated to all of the Company's existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness and will be structurally subordinated to all of the existing and future indebtedness and other liabilities of the Company's subsidiaries that are not Subsidiary Guarantors. The Indenture contains covenants that limit the ability of the Company and certain of its subsidiaries to (i) grant or permit liens, (ii) declare or pay dividends, make distributions on or redeem or repurchase the Company's capital stock; (iii) engage in sale/leaseback transactions and (iv) engage in a consolidation or 2
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merger, or sell, transfer or otherwise dispose of all or substantial all of their assets. These covenants are subject to important exceptions and qualifications. The Indenture is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated herein by reference. The description of the material terms of the Indenture above is qualified in its entirety by reference to Exhibit 4.1.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information required by this item is included in Item 1.01 and incorporated herein by reference.
Item 8.01 Other Events
On
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
4.1 Senior Notes Indenture dated as ofJune 22, 2020 amongThe Brink's Company , the Subsidiary Guarantors named therein, andU.S. Bank National Association , as trustee, relating to the Senior Notes due 2025 99.1 Press Release, datedJune 18, 2020 , issued byThe Brink's Company 99.2 Press Release, datedJune 18, 2020 , issued bythe Brink's Company 99.3 Press Release, datedJune 22, 2020 , issued bythe Brink's Company Cover Page Interactive Data File (embedded within the Inline XBRL 104 document) 3
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