Aroundtown holders convert €174.4 million bonds after incentive talks

By Susanna Moon

Chicago, Aug. 29 – Aroundtown SA said holders have exercised the conversion option for €174.4 million of its €300 million of 1.5% convertible bonds due 2021.

The issuer said on June 11 that it was discussing with some holders the payment of an incentive in exchange for early exercise of the conversion option.

“Aroundtown is now considering ending the discussions with the bondholders in the near future so that holders of the bonds may no longer be incentivized to agree to exercise their conversion rights,” according to a notice.

Berenberg was advising Aroundtown.

Aroundtown is a Luxembourg-based investor in real estate specializing in central locations of cities in Germany and the Netherlands.

© 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.