| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Regione Lazio > News item |
Regione Lazio expects to accept all tendered floaters, 6.022% notes
By Angela McDaniels
Tacoma, Wash., Dec. 1 – Italy’s Regione Lazio expects to accept for purchase all of the notes tendered in its offer for the €200 million floating-rate notes due March 7, 2028 and $450 million 6.022% notes due March 7, 2033 issued through Cartesio Srl under its asset-backed euro medium-term note program, according to a company news release.
As reported on Nov. 29, holders tendered all of the floating-rate notes and $446.6 million of the 6.022% notes.
The final acceptance amounts will be determined at or around the pricing time, which was delayed to10:30 a.m. ET on Dec. 1 from 7 a.m. ET on Dec. 1.
The tender offer began Nov. 20 and ended at 11 a.m. ET on Nov. 28. The settlement date is expected to be Dec. 6.
For the floating-rate notes, the purchase price is 95.95% of par.
For the 6.022% notes, the purchase price will be set at the pricing time by reference to a yield calculated as the sum of the interpolated mid-swap rate plus 133 basis points.
Holders will also receive accrued interest up to but excluding the settlement date.
The region said the tender offer is part of an effort to partially refinance its debt under the note program by implementing an unwinding transaction.
The unwinding transaction envisions a property transfer, the repurchase of some real estate assets and then the purchase and cancellation, in whole or in part, of the notes. The transaction also includes the possible early termination, in whole or in part, of related swap agreements and/or sinking funds.
The dealer manager is Deutsche Bank AG, London Branch (+44 20 7545 8011). The tender agent is Lucid Issuer Services Ltd. (+44 207 704 0880 or lazio@lucid-is.com).
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.