EXOR accepts tenders for €238.6 million of 5.375% notes due 2017

By Marisa Wong

Madison, Wis., Oct. 9 – EXOR SpA said it is accepting for purchase all €238.6 million of 5.375% notes due June 2017 tendered in the offer that ended at 11 a.m. ET on Oct. 8.

As previously announced, the company launched a cash tender offer on Sept. 30 for its €690 million of outstanding 5.375% notes.

The amount of notes tendered in the offer is also the maximum acceptance amount, the company noted.

The purchase price was set at 8 a.m. ET on Oct. 9 by reference to the sum of the June 2017 interpolated rate plus 29 basis points. The purchase price is 112.791. The company will also pay accrued interest.

Settlement is slated for Oct. 14.

After settlement, there will be €451.4 million of the notes outstanding. The company originally issued €750 million of the notes.

The dealer managers are BNP Paribas (44 0 20 7595 8668 or liability.management@bnpparibas.com), Citigroup Global Markets Ltd. (44 20 7986 8969 or liabilitymanagement.europe@citi.com), Credit Agricole CIB (44 207 214 7142 or liability.management@ca-cib.com), Goldman Sachs International (44 207 774 9862 or liabilitymanagement.eu@gs.com) and UniCredit Bank AG (39 02 8862 0581, 49 89 378 15908, dcmitaly@unicredit.eu or corporate.lm@unicredit.de). The tender agent is Lucid Issuer Services Ltd. (44 0 20 7704 0880 or exor@lucid-is.com).

EXOR is an investment company based in Turin, Italy.

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