Aroundtown Real Estate announces results for seven-note tender offer

Chicago, June 8 – Aroundtown Real Estate Ltd. announced the tender results for its capped offer for seven series of notes due in 2025, 2026 and 2027, according to an announcement.

The company is lifting the cap to accept €362.8 million principal amount of notes. When the offer started, the maximum acceptance amount was €350 million.

The company is accepting the following amounts of notes from each of the series in the offer with the total purchase considerations (excluding interest which will also be paid):

• €28.2 million accepted of the €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 and for a total purchase consideration of €25,117,300;

• €27.2 million accepted of the €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 for a total purchase consideration of €23,241,800;

• €10.1 million accepted of the €231.8 million of outstanding 1.875% notes due Jan. 19, 2026 (ISIN: XS1649193403) for a minimum purchase price of 84.65 for a total purchase consideration of €8,655,250;

• €30.2 million accepted of the €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 for a total purchase consideration of €24,236,700;

• €58.3 million accepted of the €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 for a total purchase consideration of €43,639,900;

• €500,000 accepted of the €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 for a total consideration of €407,500; and

• €208.3 million accepted of the €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 for a total consideration of €147,099,400.

Settlement is planned for June 9.

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

The purchase prices were determined via an unmodified Dutch auction procedure.

The issuer is a subsidiary of Aroundtown SA.

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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