5.375% Exchangeable Senior Notes due 2033

NEW YORK, March 2, 2022 /PRNewswire/ --

Irrevocable Settlement Method Election
On February 28, 2022, NRF Holdco, LLC (the "Company") irrevocably elected that all future exchanges of its 5.375% Exchangeable Senior Notes due 2033 (the "Notes") will be settled pursuant to cash settlement, as permitted by the indenture governing the Notes (the "Indenture"). Under this settlement method, the Company will satisfy its exchange obligation in cash for each $1,000 aggregate principal amount of Notes.

Change in Control
On February 28, 2022, CWP Bidco LP, a Delaware limited liability partnership ("Buyer"), an affiliate of Highgate Capital Investments, L.P. and Aurora Health Network, purchased from DigitalBridge Operating Company, LLC, a Delaware limited liability company ("Seller"), a subsidiary of DigitalBridge Group, Inc. (f/k/a Colony Capital, Inc.), pursuant to that certain Purchase and Sale Agreement dated as of September 6, 2021 between Seller and Buyer, all of the Company's membership interests and the Company became a wholly owned subsidiary of Buyer (the "Acquisition").

As a result of the Acquisition, the effective date of a Change in Control and an Additional Shares Change in Control (each as defined in the Indenture) occurred on February 28, 2022. The Company has provided written notice of the Change in Control to the holders of the Notes and informed them of their right to require the Company to repurchase their Notes in connection with the Change in Control.

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SOURCE Highgate