a4363o
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the
Month of: May 2020
Commission
File Number: 001-38187
MICRO FOCUS INTERNATIONAL PLC
(Exact name of registrant as specified in its charter)
|
The Lawn, 22-30 Old Bath Road
Newbury, Berkshire
RG14 1QN
United Kingdom
+44 (0) 1635-565-459
(Address of principal executive office)
Indicate
by check mark whether this registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule
101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule
101(b)(7): ☐
CONTENTS
Exhibit No.
|
Exhibit Description
|
99.1
|
Successful
Completion of Term loan refinancing, dated 29 May 2020
|
29 May 2020
Micro Focus International plc
Successful Completion of Term
loan refinancing
Micro Focus International plc ("Micro Focus") announces that it has successfully priced and
allocated a Euro 600 million and a USD 650 million Senior Secured
Term Loan B (together, the "Facilities"), increased from Euro 400 million and USD 400
million respectively at launch in response to strong investor
demand. The new 5-year Facilities, along with $150 million of
existing cash reserves, will be used by Micro Focus to fully
refinance its existing Senior Secured Term Loan B due November 2021
and pay associated fees and expenses (the
"Transaction").
Final pricing for the new 5-year Facilities is 4.50% above EURIBOR
(subject to a 0.0% floor) at an original issue discount of
3.0% on the Euro Tranche, and 4.25% above LIBOR (subject to a
1.0% floor) at an original issue discount of 2.5% on the US
Dollar denominated tranche.
Following the completion of the Transaction, the average maturity
of Micro Focus's debt capital structure has been extended from 3.2
years to 4.2 years, with the next tranche of Term loans due for
repayment in June 2024.
The transaction was led by JP Morgan in conjunction with Barclays,
HSBC, Natwest, Bank of America and Goldman Sachs. Lazard acted as
the company's advisers.
Stephen Murdoch (Chief Executive Officer) said:
"This very positive outcome demonstrates the strength of the Micro
Focus proposition and the cash generative qualities of our
recurring revenue model. This is an important step as we work to
deliver on the operational improvements we set out in our Strategic
and Operational Review in February."
This announcement contains information that was previously Inside
Information, as that term is defined in the Market Abuse Regulation
(Regulation (EU) No 596/2014 of the European Parliament and of the
Council of 16 April 2014) and successor UK
legislation.
Enquiries:
Micro Focus
Tel: +44 (0)1635 32646
Stephen Murdoch, CEO
Investors@microfocus.com
Brian McArthur-Muscroft, CFO
Ben Donnelly, Investor relations
Brunswick
Tel: +44 (0) 20 7404 5959
Sarah
West
MicroFocus@brunswickgroup.com
Jonathan
Glass
Notes to Editors:
About Micro Focus
Micro
Focus (LSE: MCRO.L, NYSE: MFGP) is a global enterprise software
company supporting the technology needs and challenges of the
Global 2000. Our solutions help organizations leverage
existing IT investments, enterprise applications and emerging
technologies to address complex, rapidly evolving business
requirements while protecting corporate information at all times.
Our product portfolios are Security, IT Operations Management,
Application Delivery Management, Information Management &
Governance and Application Modernization & Connectivity. For
more information, visit: www.microfocus.com
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereto duly authorized.
Date:
26 May 2020
Micro
Focus International plc
|
By:
|
/s/
Brian McArthur-Muscroft
|
|
Name:
|
Brian
McArthur-Muscroft
|
|
Title:
|
Chief
Financial Officer
|