Aroundtown Real Estate kicks off tender offers for seven notes

Chicago, June 1 – Aroundtown Real Estate Ltd. began tender offers for a maximum acceptance amount of €350 million principal amount on Thursday for seven series of notes due in 2025, 2026 and 2027, according to an announcement.

The issuer is a subsidiary of Aroundtown SA.

The tender offers pertain to the following:

• €538.9 million of outstanding 1% notes due Jan. 7, 2025 with a first optional redemption date on Oct. 7, 2024 (ISIN: XS1715306012) for a minimum purchase price of 88.9;

• €638.4 million of outstanding 0.625% notes due July 9, 2025 with a first optional redemption date on April 9, 2025 (ISIN: XS2023872174) for a minimum purchase price of 85.25;

• €231.8 million of outstanding 1.875% notes due Jan. 19, 2026 (ISIN: XS1649193403) for a minimum purchase price of 84.65;

• €562.3 million of outstanding 1.5% notes due May 28, 2026 with a first optional redemption date on Feb. 28, 2026 (ISIN: XS1843435501) for a minimum purchase price of 79.9;

• €807.8 million of outstanding 0% notes due July 16, 2026 with a first optional redemption date on April 16, 2026 (ISIN: XS2273810510) for a minimum purchase price of 74.7;

• €298.3 million of outstanding 2% notes due Nov. 2, 2026 with a first optional redemption date on Aug. 2, 2026 (ISIN: XS1815135352) with a minimum purchase price of 81.5; and

• €1.25 billion of outstanding 0.375% notes due April 15, 2027 with a first optional redemption date of Jan. 15, 2027 (ISIN: XS2421195848) with a minimum purchase price of 70.

The purchase prices will be determined via an unmodified Dutch auction procedure.

Noteholders may either deliver competitive or non-competitive instructions. Non-competitive instructions will be deemed to specify the minimum purchase price.

Competitive instruction must be expressed in increments 0.1% above the minimum purchase price.

Tenders may be prorated.

Accrued interest, if any, will also be paid.

The offer expires at 11 a.m. ET on June 7.

Settlement is planned for June 9.

The dealer managers are BNP Paribas, (+33 1 55 77 78 94, liability.management@bnpparibas.com), Goldman Sachs Bank Europe SE (+44 20 7774 4836, liabilitymanagement.eu@gs.com) and J.P. Morgan SE (+44 207 134 2468, liability_management_EMEA@jpmorgan.com).

Kroll Issuer Services Ltd. (+44 20 7704 0880, aroundtown@is.kroll.com, https://deals.is.kroll.com/aroundtown) is the tender agent.

The issuer is based in Cyprus. The parent is a Luxembourg-based commercial real estate company.

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