Arrow Bidco, LLC, an indirect subsidiary of Target Hospitality Corp., announced its intention to redeem all $181.4 million in aggregate principal amount outstanding of its 10.75% senior secured notes due 2025. The redemption date for these notes is set for March 25, 2025.
The 2025 Notes will be redeemed at a price equal to 101.000% of the principal amount, plus any accrued and unpaid interest up to, but not including, the redemption date. This action reflects Target Hospitality's strong financial position and its strategy to optimize its balance sheet.
This redemption is expected to significantly reduce the company's interest expense in future periods, enhancing its financial flexibility. Investors holding beneficial interests in the 2025 Notes were advised to contact their banks or brokers for information on obtaining the redemption payment.
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