Germany’s Alstria buys €348.2 million 2.25%, 2.125% notes in tender

By Susanna Moon

Chicago, Nov. 16 – Alstria Office REIT AG said it accepted for purchase €173.2 million of its €500 million 2.25% notes due 2021 and €175 million of its €500 million 2.125% notes due 2023.

Alstria purchased the 2.125% notes using a proration factor of 94.5% and set pricing at 6 a.m. ET on Thursday, according to a company announcement.

The purchase price for the notes due 2021 was set at 107.284 using a purchase yield of negative 0.10%.

For the 2023 notes, pricing was set at 109.116 using the interpolated mid-swap rate plus a spread of 10 basis points for a reference rate of 0.235% and purchase yield of 0.335%.

The financing condition was met Wednesday with the issue of €350 million of 1.5% notes due 2027.

After settlement Nov. 20, the outstanding amount will be €326.8 million principal amount of the 2021 notes and €325 million principal amount of the 2023 notes.

Hamburg, Germany-based Alstria is a real estate investment trust focused on office real estate in Germany.

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