Atrium European extends cash tender offer for 6.8% notes to Nov. 18

By Marisa Wong

Madison, Wis., May 16 - Atrium European Real Estate Ltd. announced an extension to its cash tender offer for any and all of the €35 million of outstanding 6.8% guaranteed notes due Dec. 21, 2011 issued by wholly owned subsidiary Manhattan Development sro.

The offer began on April 13 and will now expire at 11 a.m. ET on Nov. 18 or earlier, if the company makes a further announcement. The offer was originally scheduled to expire on May 13.

As of 11 a.m. ET on May 13, Atrium received tenders for €8,333,000 of the notes. The company said it decided to accept all tendered notes for purchase. Settlement for these notes will take place on May 17.

As previously reported, the company will pay €1,010 for each €1,000 principal amount of notes plus accrued interest.

Atrium said the offer will allow the company to continue its strategy of acquiring its debt in order to achieve interest cost savings and to source financing opportunities.

Deutsch Bank AG, London Branch is the dealer manager (44 20 7545 8011 or liability.management@db.com) and tender agent (44 20 7547 5000 or xchange.offer@db.com).

Atrium is a Jersey, Channel Islands, company that owns, operates and develops shopping centers in Central and Eastern Europe.

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