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Manutencoop’s tender for €80 million 8˝% notes oversubscribed
New York, May 27 – Manutencoop Facility Management SpA said that its tender offer for up to €80 million of its €425 million of 8˝% senior secured notes due 2020 was oversubscribed by the expiration.
As of the tender deadline of 11 a.m. ET on May 26 holders had tendered €119,051,000 of the notes.
Manutencoop will accept €80 million of notes on a pro rata basis, according to a notice. The scaling factor will be 68.93%.
As announced on May 19, Manutencoop was offering par in cash for the notes plus accrued interest up to but excluding the payment date, according to a notice.
Manutencoop sold the original notes under both Rule 144A and Regulation S, but the tender is only for Regulation S notes.
The company also purchased €45 million of notes in the open market during the fourth quarter of last year. Those notes have not been canceled.
J.P. Morgan Securities plc (+ 44 20 7134 3438 or emea_LM@jpmorgan.com) is dealer manager. Lucid Issuer Services Ltd. (+ 44 20 7704 0880 or manutencoop@lucid-is.com) is tender agent.
Manutencoop is a Bologna, Italy-based facilities management company.
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