Otto announces €153.77 million tendered in offer for three bonds

Chicago, Sept. 20 – Otto GmbH & Co. KG announced the results of its capped tender offer for up to €250 million from three series of notes, according to an announcement on Monday.

As of the deadline at 10 a.m. ET on Sept. 17, the company received tenders for a total of €153,772,000 of notes.

The company received tenders for, and will accept the following amounts, of notes:

• €51,884,000 of the €300 million outstanding of 4% subordinated notes (ISIN: XS1853998182) with a first call date in 2025, with an offer to purchase the notes at 110.15, with an acceptance subcap of €150 million for the series;

• €68,751,000 of the €259,273,000 outstanding 2024 notes (ISIN: XS1625975153), with an offer to purchase at 105.6; and

• €33,137,000 of the €254,441,000 outstanding 2026 notes (ISIN: XS1979274708), with an offer to purchase at 110.1.

Interest will be paid to the settlement date.

Settlement is planned for Sept. 22.

The dealer managers for the offer are Commerzbank AG (+49 69 1365 9920, Liability.Management@commerzbank.com), Banco Santander, SA (Tommaso.GrosPietro@santandercib.co.uk, Adam.Crocker@santandercib.co.uk) and UniCredit Bank AG (+49 171 306 6648, corporate.lm@unicredit.de).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, otto@lucid-is.com).

The mail order and e-commerce company is based in Hamburg, Germany.

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