DGAP-News

Douglas GmbH: Announces Pricing of €1,305 Million 6.000% Senior Secured Notes due 2026 and €475 Million 8.250% / 9.000% Senior PIK Notes due 2026

DGAP-News: Douglas GmbH / Key word(s): Financing Douglas GmbH: Announces Pricing of €1,305 Million 6.000% Senior Secured Notes due 2026 and €475 Million 8.250% / 9.000% Senior PIK Notes due 2026 26.03.2021 / 18:00 The issuer is solely responsible for the content of this announcement. NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

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March 26, 2021

Douglas GmbH Announces Pricing of
€1,305 Million 6.000% Senior Secured Notes due 2026 to be issued by Douglas GmbH and
€475 Million 8.250% / 9.000% Senior PIK Notes due 2026 to be issued by Kirk Beauty SUN GmbH

Düsseldorf, Germany-March 26, 2021 - Douglas GmbH (the "Company") announces that it has priced an offering of (1) €1,305 million aggregate principal amount of senior secured notes due 2026 (the "Senior Secured Notes") intended to be issued by the Company and (2) €475 million aggregate principal amount of senior PIK notes due 2026 intended to be issued by Kirk Beauty SUN GmbH (the "Senior PIK Notes" and together with the Senior Secured Notes, the "Notes"). The Senior Secured Notes will bear interest at a rate of 6.000% per annum and will be issued at a price of 100% of the nominal amount thereof. The Senior PIK Notes will bear interest at a rate of 8.250% per annum in respect of cash interest and 9.000% per annum in respect of PIK interest and will be issued at a price of 100% of the nominal amount thereof. The issuance and settlement of the Notes is expected to occur on April 8, 2021, subject to customary closing conditions.

In connection with the offering of the Notes, the Company has entered into a supplemental deed that amends and restates the existing senior secured facilities agreement providing for a new term loan B facility in the amount of €600 million and a new revolving credit facility in the amount of €170 million.

The Company intends to use the proceeds from the offering of the Notes, together with proceeds from borrowings under the €600 million term loan B facility and an equity contribution from existing shareholders to (1) fund the redemption in full of the Company's existing senior secured notes due 2022 and existing senior notes due 2023; (2) repay or refinance all amounts outstanding under the Company's existing senior secured facilities; (3) fund cash on hand; and (4) pay fees and expenses incurred in connection therewith.