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Maxima Grupe announces €240 million tender maximum acceptance amount
Chicago, July 5 – Maxima Grupe, UAB announced that the maximum acceptance amount will be €240 million in its cash tender offer for its €300 million outstanding 3¼% notes due Sept. 13, 2023 (ISIN: XS1878323499), according to a notice on Monday.
The offer expires at 11 a.m. ET on July 7.
Because the amount that will be accepted is lower than the amount outstanding, tenders may be prorated.
The company plans to accept priority notes before non-priority notes.
As previously reported, the company is offering to purchase the notes at 99.5 plus accrued interest up to but excluding the settlement date.
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.
The offer was subject to the financing condition of the new offering of senior notes. The company announced that it has completed a downsized offer of €240 million of new notes.
Noteholders who wished to subscribe for the new notes were to be given priority in the tender offer.
Settlement is expected for July 13.
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 70 91 42 55; 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.
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