Goodman starts tender offer for 1.375% guaranteed notes due 2025

By Mary-Katherine Stinson

Lexington, Ky., April 22 – Goodman Group said that Goodman Australia Finance Pty Ltd. has launched a cash tender offer for any or all its outstanding €498.55 million 1.375% guaranteed senior notes due Sept. 27, 2025 (ISIN: XS1577951129).

The offer covers the Regulation S portion of the notes but does not include the notes issued under Rule 144A (ISIN: XS1577950824). The outstanding total principal amount of the notes together with the Rule 144A notes is €500 million.

The offer will not be made in the United States.

Pricing will be set at 7 a.m. ET on April 30 using the interpolated mid-swap rate plus 25 basis points.

Holders also will receive accrued interest to but excluding the purchase date.

Tender instructions are irrevocable once submitted except in limited circumstances.

The offer expires at 11 a.m. ET on April 29.

Settlement is expected on May 6.

HSBC Bank plc (+44 20 7992 6237, +852 3941 0223, liability.management@hsbcib.com), ING Bank NV (+44 20 7767 6784, liability.management@ing.com), J.P. Morgan Securities plc (+44 20 7134 2468, liability_management_EMEA@jpmorgan.com) and Morgan Stanley & Co. International plc (+44 77689 22499, +44 79709 39651, debt_advisory@morganstanley.com) are the dealer managers.

Kroll Issuer Services Ltd. (+44 20 7704 0880, +852 2281 0114, goodman@is.kroll.com) is the information and tender agent.

The full set of documents related to the offer is available on the offer website at https://deals.is.kroll.com/goodman.

Goodman Group is a Sydney, Australia-based property group.

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