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Accentro redeems €89.84 million of 3¾% notes due 2021; remaining notes to be redeemed March 18
By Rebecca Melvin
New York, Feb. 14 – Accentro Real Estate AG has purchased €89.835 million of its 3¾% notes due 2021 (ISIN: DE000A2G87E2), according to a notice on Friday.
Under the terms of the tender, the company will redeem the remaining principal amount of notes at par plus unpaid accrued interest on March 18.
Initially there were €100 million of the notes, and the purchase price for the redemption was 103.243 plus accrued interest, representing a yield to maturity of 0.32% based on the relevant Bund rate plus 100 basis points on the basis of a settlement date of Feb. 14.
Because more than 80% of the notes were redeemed, the issuer will redeem the remaining notes.
As previously reported, the redemption of the notes is conditional upon the issuance of new notes.
Joint dealer managers for the tender offer are Deutsche Bank AG (+44 20 7545 8011) and ODDO BHF SCA (+33 0 1 44 51 80 19 or +33 0 1 44 51 85 66, e-mail: raphael.de-riberolles@oddo-bhf.com, mickael.previ@oddo-bhf.com).
The tender agent for the offer is ODD BHF AG (+49 0 69 718 3922 or ml-bhf-cf-cma@oddo-bhf.com).
Accentro is a Berlin-based real estate company focused on residential holdings, primarily apartments in Berlin.
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