immigon to spend €933 million to buy back bonds, notes, Schuldscheine

By Angela McDaniels

Tacoma, Wash., July 31 – immigon portfolioabbau ag (formerly Österreichische Volksbanken-AG) received tenders for €1,456,000,000 nominal amount of its non-subordinated liabilities and decided to accept offers for a total consideration amount including accrued interest of €933 million, according to a company news release.

The tender offer ended at 11 a.m. ET on July 28 and was made to the holders of a total of 268 non-subordinated liabilities in the form of bonds (Anleihen), registered notes (Namensschuldverschreibungen) and Schuldscheine.

When the offer began July 9, the anticipated total consideration amount was €850 million.

Following the implementation of the demerger of Österreichische Volksbanken-AG and the continued operation of immigon as wind-down company (Abbaugesellschaft), the company’s management board resolved on July 4 to invite the holders to offer their instruments for purchase or prepayment.

The tender agent was Citibank, NA, London Branch. The dealer manager was Citigroup Global Markets Ltd.

immigon is based in Vienna.

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