Maxima Grupe begins tender offer for €300 million 3¼% notes

By Mary-Katherine Stinson

Lexington, Ky., June 27 – Maxima Grupe, UAB launched a cash tender offer for its €300 million outstanding 3¼% notes due Sept. 13, 2023 (ISIN: XS1878323499), according to multiple notices Monday.

The company is offering to purchase the notes at 99.5 plus accrued interest up to but excluding the settlement date.

The offer expires at 11 a.m. ET on July 7.

As soon as practicable on July 8 the company will announce the results of the tender offer and the maximum acceptance amount including any proration factor and the amount that will remain outstanding after settlement.

Settlement is expected for July 13.

Notes repurchased in the offer will be canceled and notes not tendered in the offer will remain outstanding.

The purpose of the offer, along with a proposed issuance of a series of new euro-denominated fixed rate notes, is to manage the company’s overall debt redemptions and extend the company’s debt profile.

Noteholders who validly tender their notes may receive priority allocation for the new notes.

Noteholders must contact a dealer manager to obtain a priority allocation code.

The offer is subject to the financing condition of the new offering of senior notes.

The cap will be determined based on the amount of the new offering.

Alternatively, noteholders who wish to subscribe for the new notes may be given priority in the tender offer.

Citigroup Global Markets Europe AG (+44 20 7986 8969; liabilitymanagement.europe@citi.com), JPMorgan SE (em_europe_lm@jpmorgan.com), Luminor Bank AS (+37068248548, dcm@luminorgroup.com), MUFG Securities (Europe) NV (+33 0 1 7091 4255; liability.management@mufgsecurities.com) are the dealer managers.

Kroll Issuer Services Ltd. (+ 44 20 7704 0880; maximagrupe@is.kroll.com) is the tender agent.

Maxima Grupe is part of the Vilniaus Prekyba group which controls and manages the group of subsidiary companies operating chains of retail stores and pharmacies as well as real estate development and property management companies in the Baltic States, Sweden, Poland and Bulgaria.

© 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.