Amadeus accepts tenders for €250 million of 2028 notes, no 2027 notes

By Marisa Wong

Los Angeles, Sept. 22 – Amadeus IT Group, SA announced the final results and pricing of its Sept. 14 tender offer for its €750 million outstanding 1.875% notes due Sept. 24, 2028 (ISIN: XS2236363573) and €500 million outstanding 2.875% notes due May 20, 2027 (ISIN: XS2177555062).

As of 11 a.m. ET on Sept. 21, the expiration of the offer, the maximum acceptance amount was set at €250 million, which is higher than the original €150 million offer cap.

Because the 2028 notes have priority in acceptance over the 2027 notes, Amadeus accepted for purchase €250 million of the tendered 2028 notes and none of the 2027 notes. The tendered 2028 notes were accepted using a proration factor of 57.1%.

The purchase price is 91.096 for the 2028 notes. Pricing, calculated around 4 a.m. ET on Sept. 22, was based on the June 2028 interpolated mid-swap rate and a purchase spread of 90 basis points and was calculated using the first call date of June 24, 2028.

The company will also pay accrued interest in an amount of €10.27 per €100,000 of 2028 notes, assuming a settlement date of Sept. 26.

BNP Paribas (+33 1 55 77 78 94; attn.: liability management group; liability.management@bnpparibas.com) is dealer manager for the offer.

Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: David Shilson; amadeus@is.kroll.com; https://deals.is.kroll.com/amadeus) is tender agent.

Further details can be obtained from the issuer (attn.: group treasury & corporate finance – debt issues; Ir@amadeus.com)

The issuer is a Madrid-based travel technology company.

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