Spain’s Sacyr starts tender offer for all floating-rate notes due 2022

Chicago, Sept. 28 – Sacyr, SA has started an any-and-all tender offer for noteholders of its €132.5 million floating-rate senior notes due June 10, 2022 (ISIN: XS1837195640), according to an announcement.

The company is offering to purchase the notes at 101. Accrued interest will also be paid to the settlement date.

The offer is subject to a new financing condition, an offering of notes. The notes will be an add-on offering to the €52.3 million 3.35% senior notes due April 2, 2024.

Priority in the allocation of the new notes may be given to tendering noteholders if they indicate to the dealer managers that they wish to subscribe to the new series.

The expiration time is 1 p.m. ET on Oct. 13.

Tenders cannot be revoked once submitted.

Settlement is expected to be Oct. 21.

Banca March, SA is the dealer manager (+34 91 757 76 45, ghott@bancamarch.es).

Issuer Solutions, SL is the tender agent (+34 963 222 555, projects@issuersolutions.com).

Sacyr is a Madrid-based construction company.

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