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Aroundtown announces tender results for notes due 2029, 2031
Chicago, July 12 – Aroundtown Real Estate Ltd. announced the tender results from its offer started July 5 for senior notes issued by Aroundtown SA, according to a notice on Wednesday.
The purchase prices were determined via an unmodified Dutch auction procedure.
Accordingly, the purchase considerations and the series acceptance amounts are the following for each series:
• $43,029,000 principal amount of notes accepted for a total purchase consideration of $32,147,260 from the $600 million outstanding 5.375% series 18 notes due March 21, 2029 with a first call date of Dec. 21, 2028 (ISIN: XS1964701822) with a minimum purchase price of 74;
• £15,287,000 principal amount of notes accepted for a total purchase consideration of £9,703,006 from the £500 million outstanding 3% series 4 notes due Oct. 16, 2029 with a first call date of July 16, 2029 (ISIN: XS1700429308) with a minimum purchase price of 62.8; and
• £11,346,000 principal amount of notes accepted for a total purchase consideration of £7,036,868 from the £400 million outstanding 3.625% series 20 notes due Jan. 10, 2031 with a first call date of April 10, 2031 (ISIN: XS1980255779) with a minimum purchase price of 60.9.
The company will also pay accrued interest on each of the notes.
The offers expired at 11 a.m. ET on July 11.
Settlement is expected on July 13.
The dealer managers are Citigroup Global Markets Ltd. (+44 20 7986 8969; liabilitymanagement.europe@citi.com), Deutsche Bank AG (+44 20 7545 8011) and Goldman Sachs Bank Europe SE (+44 20 7774 4836; liabilitymanagement.eu@gs.com).
Kroll Issuer Services Ltd. (+44 20 7704 0880; aroundtown@is.kroll.com; attn.: Jacek Kusion; https://deals.is.kroll.com/aroundtow) is the tender agent.
The company said the purpose of the offers is to, among other things, proactively manage its debt profile.
Aroundtown Real Estate is based in Cyprus. Parent Aroundtown is a Luxembourg-based commercial real estate company.
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