Immofinanz holders tender €465.2 million of 2.75%, 1.25% convertibles

By Angela McDaniels

Tacoma, Wash., March 7 - Immofinanz AG received tenders for €465.2 million of notes in the tender offer for its €750 million of 2.75% convertible bonds due Jan. 20, 2014 and €750 million of 1.25% convertibles due Nov. 19, 2017, according to a company news release.

Holders tendered €454.7 million of the 2.75% convertibles and €10.5 million of the 1.25% convertibles. All of the tendered convertibles were accepted for purchase.

The tender offer began Feb. 15 and ended at 10 a.m. ET on March 7.

For each €100,000 principal amount, holders will receive €99,750 for the 2.75% convertibles and €106,000 for the 1.25% convertibles. Immofinanz will also pay accrued interest.

The settlement date is March 8.

The tender offer was contingent on a new issue of seven-year convertibles.

The dealer managers were Credit Suisse Securities (Europe) Ltd. (44 207 883 8763 or liability.management@credit-suisse.com), Deutsche Bank AG, London Branch (44 207 545 8011 or liability.management@db.com) and UniCredit Bank Austria AG (44 207 826 7701 or lonsyndicate@unicreditgroup.eu).

Immofinanz is a Vienna-based real estate firm.

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