EXOR cancels €11.4 million more 5.375% notes due 2017 after tender

By Susanna Moon

Chicago, Nov. 14 – EXOR SpA said it canceled €250 million of 5.375% notes due June 2017 on Thursday, including €11.4 million principal amount of notes previously held by the company.

After the cancellation, there was €440 million of the notes outstanding, according to a company press release.

As previously announced, the company accepted tenders for €238.6 million of the notes in the offer that ended at 11 a.m. ET on Oct. 8, with settlement on Oct. 14.

The company began the cash tender offer for its €690 million of outstanding 5.375% notes on Sept. 30. The company originally issued €750 million of the notes.

The purchase price was 112.791 plus accrued interest.

Pricing was set at 8 a.m. ET on Oct. 9 by using the sum of the June 2017 interpolated rate plus 29 basis points.

The dealer managers were BNP Paribas (44 0 20 7595 8668 or liability.management@bnpparibas.com), Citigroup Global Markets Ltd. (44 20 7986 8969 or liabilitymanagement.europe@citi.com), Credit Agricole CIB (44 207 214 7142 or liability.management@ca-cib.com), Goldman Sachs International (44 207 774 9862 or liabilitymanagement.eu@gs.com) and UniCredit Bank AG (39 02 8862 0581, 49 89 378 15908, dcmitaly@unicredit.eu or corporate.lm@unicredit.de). The tender agent was Lucid Issuer Services Ltd. (44 0 20 7704 0880 or exor@lucid-is.com).

EXOR is an investment company based in Turin, Italy.

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