DAA gets tenders for €259.43 million of Dublin Airport notes due 2018

By Susanna Moon

Chicago, June 1 – DAA Finance plc said investors had tendered €259,432,000 of its €549.65 million of outstanding €600 million 6.5872% notes due 2018 guaranteed by daa plc, formerly Dublin Airport Authority.

The company accepted for purchase all of the tendered notes at a price of 113.954% of par and accrued interest of 3.1676%, with settlement set for June 8, according to a notice.

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

As announced May 23, the tender offer price is based on a settlement date of June 8 and a purchase yield of negative 0.1%.

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

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

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.

© 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.