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Global Switch gets tenders for €296.37 million of 5.5% notes due 2018
By Susanna Moon
Chicago, June 1 – Global Switch Holdings Ltd. took in tenders for €296,371,000 of its €600 million 5.5% guaranteed notes due 2018 in the offer that ended at 11 a.m. ET on May 31.
Global Switch accepted all of the tendered notes at a purchase price of 105.007 using a settlement date of June 2 and purchase yield of negative 0.2%, according to a company update on Thursday.
Holders also will receive accrued interest.
After settlement, there will be €303,629,000 principal amount of the notes left outstanding.
As announced May 24, the company will use proceeds of new notes to fund the offer, and the tender was contingent on the issue of the notes.
The company said it has met the financing condition.
Bank of China Ltd., London Branch (+44 20 3192 8298 or dcmcentreemea.uk@bankofchina.com), Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com), Credit Suisse Securities (Europe) Ltd. (+44 20 7883 8763 or liability.management@credit-suisse.com), Deutsche Bank AG, London Branch (liability.management@db.com) and HSBC Bank plc (+44 20 7992 6237 or LM_EMEA@hsbc.com) are the dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or globalswitch@lucid-is.com) is the tender agent.
Global Switch is a London-based company that develops, owns and operates real estate properties in Europe and the Asia Pacific.
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