AMCO sees tenders for €661.42 million of notes, accepts €399.97 million

By Marisa Wong

Los Angeles, Feb. 6 – AMCO SpA announced the final results of its Jan. 30 tender offer for its €1.25 billion outstanding senior preferred unsecured notes due July 17, 2023 (ISIN: XS2206380573).

As of 11 a.m. ET on Feb. 3, holders had tendered €661,416,000 of the notes, according to a Monday press release.

The company has decided to accept for purchase tendered notes totaling €399,971,000. The company applied a proration factor of 61.199%.

The company had offered to buy up to €400 million of the notes at 99.6. Accrued interest will also be paid.

The company announced on Monday that it issued €500 million of 4.625% senior notes due Feb. 6, 2027 on Monday, satisfying the tender offer’s new notes condition.

Settlement is expected to be on Feb. 8.

After settlement, €850,029,000 of the notes will remain outstanding.

The dealer managers for the offer are Morgan Stanley & Co. International plc (+44 20 7677 5040, liabilitymanagementeurope@ morganstanley.com), Societe Generale (+33 1 42 13 32 40, liability.management@sgcib.com) and UniCredit Bank AG (+39 02 8862 0581, +49 8937 81 8825, dcmcorpitaly.uc@unicredit.eu, corporate.lm@unicredit.de).

Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, amco@investor.morrowsodali.com, https://projects.morrowsodali.com/amco) is the information and tender agent.

AMCO is a specialist in non-performing exposure management. The asset manager is based in Italy and is owned by the Italian ministry of economy and finance.

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