Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Aroundtown SA > News item |
Aroundtown begins any-and-all tender offers for 2022, 2023 notes
Chicago, July 15 – Aroundtown SA started an any-and-all tender offer on Wednesday for its €210.5 million principal amount outstanding of its 1.5% notes due 2022 (ISIN: XS1403685636) and its €151 million principal amount outstanding of its 2.125% notes due 2023 (ISIN: XS1532877757), according to an announcement.
The original issue sizes were €600 million for the 2022 notes and €550 million for the 2023 notes.
Pricing will be set using the 2022 interpolated mid-swap rate plus a maximum offer spread of 55 basis points for the 2022 notes, to be determined by a modified Dutch auction procedure.
For the 2023 notes, pricing will be set using the 2023 interpolated mid-swap rate plus a maximum offer spread of 80 bps, to be determined by modified Dutch auction.
Noteholders can submit a competitive tender instruction with a specified offer spread or a non-competitive tender instruction.
If more than 80% of the notes of either series has been tendered after the settlement date, that series will be able to be optionally redeemed by the company.
The expiration for the offers is 11 a.m. ET on July 21.
The company will announce as soon as reasonably practicable after the expiration deadline the principal amount of notes that will be accepted for purchase, the clearing spreads and the scaling factors, if applicable.
Pricing is expected to be determined at 6 a.m. ET on July 22.
Settlement is expected for July 24.
Dealer managers for the offer are Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com) and Deutsche Bank AG (+44 20 7545 8011).
Lucid Issuer Services Ltd. is the tender agent (+44 20 7704 0880, aroundtown@lucid-is.com).
The issuer is a Luxembourg-based real estate company.
© 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.