Unibail-Rodamco tenders for up to €750 million of five series of notes

By Jennifer Chiou

New York, Oct. 8 – Unibail-Rodamco announced the start of its cash tender offer for up to €750 million of the following series of notes:

• €500 million of outstanding 3.5% notes due April 6, 2016;

• €600 million of outstanding 4.625% notes due Sept. 23, 2016;

• €500 million of outstanding 3.875% notes due Dec. 13, 2017;

• €750 million of outstanding 2.25% notes due Aug. 1, 2018; and

• €750 million of outstanding 3% notes due March 22, 2019.

The offers will end on Oct. 14.

According to a company release, the tender price for the 3.5% notes will be 105.14 and for the 4.625% notes will be 108.946 based on a settlement date of Oct. 17.

The payout for the other series will be calculated using the reference rate plus 5 bps for the 3.875% notes, the reference rate plus 10 bps for the 2.25% notes and the reference rate plus 20 bps for the 3% notes.

The issuer said it will pay accrued interest.

Pricing is anticipated on Oct. 15.

The dealer managers are Barclays Bank plc (attn: liability management group; 44 203 134 8515 or eu.lm@barclays.com), BNP Paribas (attn: liability management group; 44 207 595 8668 or liability.management@bnpparibas.com), HSBC Bank plc (attn: liability management group; 44 207 992 6237 or liability.management@hsbcib.com) and Societe Generale (attn: liability management; 33 1 42 13 32 40 or liability.management@sgcib.com).

The tender and information agent is Lucid Issuer Services Ltd. (attn: David Shilson/Victor Parzyjagla at 44 20 7704 0880 or unibail-rodamco@lucid-is.com).

The company is a Paris-based real estate investment trust.

© 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.