Unibail-Rodamco receives tenders for a total of €1.15 billion notes

New York, April 15 – Unibail-Rodamco SE said it received tenders for €1,145,362,000 in its offer to buy up to €1.5 billion of nine series of notes.

Because the offer is not oversubscribed, tenders will not be scaled back.

The response is the indicative level of tenders as of the expiration at 10 a.m. ET on April 14.

Holders tendered the notes as follows:

• €22,353,000 of the €265,535,000 outstanding 3.5% notes due April 6, 2016. The company is offering 103.395% of par;

• €17,178,000 of the €385,847,000 outstanding 4.625% notes due Sept. 23, 2016. The company is offering 106.64% of par;

• €241,654,000 of the €500 million of 1.625% notes due June 26, 2017. The company is offering 103.562% of par;

• €77,721,000 of the €375,719,000 outstanding 3.875% notes due Dec. 13, 2017. The company is offering 110.298% of par;

• €73,792,000 of the €535,386,000 outstanding 2.25% notes due Aug. 1, 2018. Pricing will be set using an interpolated reference rate minus a spread of 5 basis points;

• €255,941,000 of the €500 million of 1.875% notes due Oct. 8, 2018. Pricing will be set using an interpolated reference rate plus zero bps;

• €80,375,000 of the €537,513,000 of outstanding 3% notes due March 22, 2019. Pricing will be set using an interpolated reference rate plus zero bps;

• €56,678,000 of the €700 million of 3.875% notes due Nov. 5, 2020. Pricing will be set using an interpolated reference rate plus zero bps; and

• €319.67 million of the €750 million of 2.375% notes due Feb. 25, 2021. Pricing will be set using an interpolated reference rate plus 5 bps.

Unibail-Rodamco was scheduled to set pricing at 9 a.m. ET on April 15.

The company announced the tender on April 8 along with an offer to buy back its 2012 Ornanes, which attracted 78.2% of the €749,999,933.76 issued.

The transactions are aimed at extending the average debt maturity of the group, the company said.

The dealer managers are BofA Merrill Lynch (+44 20 7995 2929 or kulwant.bhatti@baml.com), Deutsche Bank AG, London Branch (+44 207 545 8011 or liability.management@db.com), Natixis (+33 1 58 55 82 66 or liability.management-corporate@natixis.com) and RBC Europe Ltd. (+44 20 7029 7161 or liability.management@rbccm.com).

The tender and information agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or unibail-rodamco@lucid-is.com).

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

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