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Lendlease launches capped tender offer for 3½% green notes due 2033
By Marisa Wong
Los Angeles, June 16 – Lendlease Europe Finance plc is inviting holders of its outstanding £250 million 3½% fixed-rate green notes due 2033 (ISIN: XS2383508590) to tender their notes for purchase for cash, up to an aggregate principal amount of £75 million, according to a notice.
The issuer is offering to purchase the notes at 71.5, plus accrued interest.
Tenders may be subject to proration.
The company said the purpose of the tender offer is balance sheet management and reduction of net debt. The tender offer also provides liquidity to holders.
Notes purchased under the offer will be canceled.
The offer expires at 11 a.m. ET on June 26.
Results will be announced on or around June 27.
Settlement is expected to be on June 29.
The dealer manager is HSBC Bank plc (+44 20 7992 6237, +852 3941 0223; liability.management@hsbcib.com).
The information and tender agent is Morrow Sodali Ltd. (leadlease@investor.morrowsodali.com; https://projects.morrowsodali.com/lendlease; +44 20 4513 6933, +852 2319 4130).
The notes are listed on the Singapore stock exchange.
The issuer is a subsidiary of Lendlease, a multinational construction and real estate company with headquarters in Sydney, Australia.
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