DAA Finance begins tender for Dublin Airport’s 6.5872% notes due 2018

By Susanna Moon

Chicago, May 23 – DAA Finance plc said it began a tender offer for its €549.65 million of outstanding €600 million 6.5872% notes due 2018 guaranteed by daa plc, formerly known as Dublin Airport Authority.

The tender offer price is 113.954% of par, assuming a settlement date of June 8 and using a purchase yield of negative 0.1%, according to a notice.

The offer is being made “to optimize the company’s balance sheet structure,” the release said.

The company said it plans to issue new notes to finance the tender offer, and the offer is conditioned on the issue of new notes.

The tender offer will end at 11 a.m. ET on May 31.

Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com) and BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com) are the dealer managers. Lucid Issuer Services Ltd. (44 20 7704 0880, Yves Theis, daa@lucid-is.com) is the tender agent.

Dublin Airport Authority is an airport management company.

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