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Aroundtown purchases 319 million of 1½% notes at 103.938 in tender
By Susanna Moon
Chicago, Jan. 31 Aroundtown SA said investors had tendered 319 million of its 600 million 1½% notes due 2022 in the tender that ended at 11 a.m. ET on Jan. 30.
Aroundtown decided to accept for purchase all of the tendered notes, according to a company announcement.
The purchase price will be 103.938% of par using a reference rate of 0.327% and a purchase yield of 0.557%.
As announced Jan. 24, pricing was scheduled for 6 a.m. ET on Jan. 31 using the purchase yield of the interpolated mid-swap rate plus 23 basis points.
The company will also pay accrued interest.
After settlement on Feb. 5, there will be 28 million of notes left outstanding.
The company said it may purchase more of the notes in the open market or otherwise.
If at least 80% of the notes have been redeemed or purchased, the company may redeem the remaining notes at par plus accrued interest to but excluding the redemption date.
Aroundtown was offering to purchase the notes to proactively manage upcoming debt redemptions, according to a previous company announcement.
Goldman Sachs International (+44 0 20 7774 9862 or liabilitymanagement.eu@gs.com) and J.P. Morgan Securities plc (+44 20 7134 2468 or emea_lm@jpmorgan.com) are the dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or aroundtown@lucid-is.com) is the tender agent.
The issuer is a Luxembourg-based real estate company.
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